Month: July 2021

Bitcoin peeked 24h highs later on Wednesday from its recent price slide, as fresh comments from the United States regulatory agency boosted the price action to $40k level. After 10 consecutive days of gain, Bitcoin bulls ran into a wall of resistance at $42,397 in August 1st, an attempt by the bears to keep the range-bound action intact.

Bitcoin price looks like to have resumed bull trend after rising above $37K in less than 24-hours ago. The price of Bitcoin has broken up from the range-bound and the key resistance level to revive its bullish trend. But we are not out of woods yet...

It looks to me as if Bitcoin has a new Cycle in play now after the long candle stopped a rollover into a deep below $28k, 24 hours ago. This is the first step to a possible trend reversal and the resumption of the 4-Year Cycle uptrend. The slight recovery in Bitcoin and altcoins shows there is aggressive buying at every dip, even though, pro traders still feel apprehensive.