Market Analysis of Bitcoin on Thursday 29 July 2021

2021-07-29 14:40Source:BtcDana

On Thursday morning Bitcoin rose high and weakened, currently fluctuating below 40,000. Bitcoin's entire network computing power is 103.29 EH/s, and the entire network difficulty is 13.67 T. The current price difference during the annualized period was 5.91%, down 1.09% from the previous day. Data: 54.14% of Bitcoin in circulation has not changed in the past year. Musk said: Tesla's Bitcoin holdings have been "close" to $1.47 billion. US White House: Infrastructure funding comes from stronger cryptocurrency tax enforcement, etc.


From technical perspective, the daily candle continued to close bullish, setting new highs repeatedly, and above 41300 has become a key short-term resistance level. H4 graph shows signal that Bitcoin has reached the top but the short-term upward trend line has not been broken, and the indicator performance is still strong. Overall, prioritise Buy. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 41400.

https://asset.ycxfy.com/upload/file/1627488000000/1627540569464.png

Resistance:40800-41400-44000

Support:38800-37300-36400


This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice


More