07/19/22 BTC/USD Analysis – Up momentum with solid volumes

Bitcoin (BTC) delivered exactly what we needed yesterday. I argued that we must finally see impulse candles on the chart, accompanied by increased volumes. And that’s exactly what the Monday candles gave us. It has an impulse form and the volumes are the highest since June 13th. Personally, that’s why I accept the current situation of BTC. Although we don’t have a major breakthrough yet, at least we have a higher peak and a higher close at the same time.

Kostolany’s stock market psychology – shaky vs. firm hands

Current situation on 1D BTC/USD

How was said in yesterday’s analysis, bitcoin had a pretty good finish last week. And the market immediately began to react to this in the new week with increased aggressiveness on the part of buyers. However, the Monday candle was still not looking very positive late last night.

It was only during the last two hours of the trading day that the price was pumped up in such a way that the Monday candles closed at impulsive form. In short, someone played with the market decently. I think the big market operators are really trying to push the price up.

As I said in the introduction, the impulse form accompanied by large volumes is very bullish signal. In addition, we managed to create a new peak and we even have a higher daily close. Bitcoin is clearly in trouble right now 50 days moving average a My S/R letter $23,000, but that shouldn’t be a big deal for the market.

In conclusion

It is crucial for Bitcoin to hold on to current price levels. Close to $22,000, respectively. If the rate drops to USD 19,000 again, I would see it as very negative price action. It’s good that the nearby support is such a holder. But it doesn’t have to last forever. That’s why we need the price to finally go up steadily. Nothing is certain in the market.

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ATTENTION: None of the information in the article is investment advice. The analysis does not attempt to predict future price developments. It serves exclusively as educational content on how to think about the market. Do your own research and analysis before making any investment, you always trade at your own risk. The kryptomagazin.cz team strongly recommends individual consideration of risks!

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