Bitcoin Fails To Hold Above Airborne Resistance As Bulls Attempt To Defend $22,000 Support – July 31, 2022
Since last week, BTC/USD The price has been characterized by small, undecided candlesticks called Doji as the bulls attempt to defend support at $22,000. These candlesticks indicate indecision between buyers and sellers. These candles usually cause prices to bounce back and break down.
Bitcoin price statistics:
• Current bitcoin price: $22,818.84
• Bitcoin Market Cap – $436,283,175,629
• Bitcoin Circulating Supply – 19,110,837.00 BTC
• Total bitcoin supply: $479,411,063,377
• Coinmarketcap Bitcoin Ranking – #1
Resistance levels: $50,000, $55,000, $60,000
Assistance levels: $25,000, $20,000, $15,000
The buyers made two unsuccessful attempts at the resistance levels of $24,276 and $24,736. On the first failed attempt, Bitcoin crashed and broke below the moving average lines. The price of BTC hit the low price level of $20,724 as the bulls bought the dips. On the second unsuccessful attempt, Bitcoin traded marginally as it hit the low of $22,843. Bitcoin may experience a price bounce if it finds support above the moving average lines. A rebound will break the overhead resistance of $24,000. A breakdown will signal the resumption of the downtrend.
BTC “Wholecorners” 40,000 increase since June crash
Small Bitcoin (BTC) investors have found an opportunity during the crypto crisis to spontaneously create their favorite cryptocurrency. The number of “wholecoiners” increased by 40,000 after the June price crash. The price of the cryptocurrency fell in May and June and coincided with an increase in the number of wallet addresses holding more than one Bitcoin.
According to the report, the number of BTC “wholecoiners” has steadily increased since January 31, when the BTC price was around $38,000. A 27% drop in May and another 40% drop in the price of BTC in June resulted in 25,389 new wallets containing at least one whole Bitcoin. According to a report, “Wallet addresses with more than 10 BTC have only increased by 600 since May, addresses with more than 100 BTC have decreased by 125, and wallets with more than 1,000 BTC have fallen by 113”.
Meanwhile, Bitcoin is declining as the bulls attempt to defend support at $22,000. The price of BTC fell below the 20% range of the daily stochastic. The market has reached the oversold zone. Buyers are likely to emerge to push prices down.
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