Bitcoin (BTC): price analysis as of July 29, 2022

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In the past few hours, Bitcoin has highlighted one in its reference chart Moment above the $ 23,000 resistance per unit. A variation that has many experts and enthusiasts wondering if the asset will be able to reach and exceed even the usual weekly milestone of $ 25,000.

Values ​​that certainly cannot be compared to the maximum points to which the cryptocurrency had accustomed us in the last months of 2021, but which are given Landazzo cryptocurrency marketwith their recent collapse, they are certainly recording a timid upward progression.

Now that even the major nations of the world have begun to launch stimulus programs, the general investor sentiment can it be positively evaluated? What have been the latest trends shown by Bitcoin? Is the current trend a sign of a recovery or should we expect further corrections?

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Bitcoin (BTC): The latest changes in the asset chart

To understand the Variations of cryptocurrency, it is possible to analyze in detail the balance sheet chart in the medium and short term. The cryptocurrency remained above the $ 22,000 support line early in the morning and then managed to hold above the $ 22,500 line.

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Staring at Two week chart, curious to report that the price of the cryptocurrency on July 17, 2022 was around $ 20,806 per unit. A stock that is still above the psychological 20,000 line, but hasn’t shown much distance from the monthly lows.

A detachment that, on the other hand, was not long in coming on July 19 and 20, with bitcoin that first managed to exceed $ 23,000 and then $ 24,000, albeit for a few hours before undergoing an important fix. Fixed the issue that brought BTC back less than $ 21,000 on March 26

This Recovery shown on July 28 and in the early hours of that 29 July it produced a typical funnel shape on the map. Bitcoin has surpassed $ 24,000 and is trading around $ 24,098 at the time of writing. This shows a 7-day change of 4.1% and a 24-hour change of 4.7%.

For the sake of completeness, we also recall some data, updated at the time of this press, on Bitcoin (BTC), according to the main industry news sites, CoinGecko caliber:

  • Position in the general ranking of cryptocurrencies: 1 #;
  • market capitalization (aka the so-called market capitalization) of $ 460,449,796,482;
  • 24-hour trading volume of $ 48,139,799,987;
  • Dominating the entire cryptocurrency market by 39.948%.

Final comments

This Bitcoin historical chart therefore shows high volatility, with the cryptocurrency falling from $ 24,000 to under $ 22,000 and then bouncing above $ 24,050. Therefore, as in these cases, it is essential to always keep the value of the asset under control.

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