BITCOIN RETURNS TO THE FIGHT AGAINST THE RESISTANCE OF USD 22,000

For this Friday I will exceed USD 21,000, but everyone is looking forward to the development of this week that is just beginning to be able to see what the behavior of this great Trade Crypto financial market will be.

The support price that everyone expects to be reached exceeds $22,500, a value that the last time I managed to reach it, I sent it downwards reaching $18,000.

The scenario may not be encouraging for Bitcoin, it is necessary and essential to evaluate a certain number of factors that should reflect what will happen temporarily in the digital financial market.

Bounce for the rise of Bitcoin?

The mark that everyone longs for Bitcoin to exceed is that of 22,600, since it has established itself as a fairly strong support value, which has made the situation for the digital currency complicated in terms of breaking this floor, which worries investors. is the time it takes to recover BTC.

According to the latest opinions from analysts, they suggest that we are facing a concept known as a bull trap, where short-term investors tend to get carried away by an upward movement that can last a very short time and retrace taking them back to the initial value close to the $19,000.

Although the market at the end of the weekend was quite busy where the dollar took all the possible increases, even reaching the level of the Euro, let us remember that during the week of July 11 to 15, a series of events took place that boosted inflation. and further negative consequences to world economies.

Although the bears seem to be getting tired and could give the bulls some encouragement, after the latest events even with the appearance of part of the Bitcoins stolen from Mt. Gox .

It is essential to evaluate what could happen this week with Bitcoin, it is not a reason to make hasty decisions, the financial markets are highly speculative and for the weekend they left a lot of fabric to cut, which this Monday will be ready to determine possible trends.

We could be facing a zone of capitulation on the part of investors, in the face of a possible recovery in the price of Bitcoin, which directly affects the valuation of the other underlying cryptocurrencies.

Such is the case of Ethereum that in the last week showed a significant growth of around 15%.

The end of the crypto winter is coming

There is an increase in enthusiasm to invest in Bitcoin after the latest movements, which would cause the whales to activate and the bulls to come out into the ring.

For experts, there is still a long way to go in this cryptographic winter, so it is possible to reach even lower values than those already touched by the leading cryptocurrency in the digital market.

The number of traders who want a change in trend is quite high, everyone would like to have a crystal ball to define the right moment in which they should invest and take the profits that they have not been able to receive during these almost 8 months.

Bullish corrections will be generated that still show that we are in a Bear Market stage , in the last cryptographic crises, digital currencies have had between 8 and 12 months to recover from a crypto winter.

It is incredible how Bitcoin managed to decrease its value so drastically compared to the last Historical High of 69,000 dollars, but, it has not been an easy year at all, we are facing a crisis that could lead us to a recession, and that is when it is due think what could happen with cryptocurrencies.

July is prospected as a good month for Bitcoin

Analyzing the chronology of Bitcoin and its critical stages when the downward trends have been generated at the beginning of the year, the month of July always tends to be the encouragement of investors, since the last two years this was the response given by the digital financial market , leaving the bearish phase.

The month of July is usually considered a price catalyst, in recent years the value has increased between 16 and 20% of its value in the downward phase.

After this week’s movements, it will suffice to evaluate the impact of the news that was generated during the weekend and then be able to evaluate what will happen to the price of Bitcoin.

Conclusion

We are facing a risky zone for the price of Bitcoin, many market analysts usually suggest that digital currencies are still in a low period, so any upward movement would achieve momentary joy among its users.

We could simply be facing a low that will allow the recovery of cryptocurrencies and a rebound towards new all-time highs, more relevant data on Bitcoin and the digital financial market in Bitcoin-Prime trading system

by Dean Miller

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