Bitcoin Sideways Move Ends as BTC Price Loses $23,000 of Support and Dive – July 31, 2022
Bitcoin bulls failed to overcome the $24,000 resistance zone as BTC price loses $23,000 support and plunges. The crypto now fluctuates between $23,000 and $24,735. BTC/USD is now trading at $23,205 at the time of writing.
Bitcoin price statistics:
• Current bitcoin price: $23,004.12
• Bitcoin market cap: $439,821,917,779
• Bitcoin Circulating Supply – 19,109,781.00 BTC
• Total bitcoin supply: $483,326,327,673
• Coinmarketcap Bitcoin Ranking – #1
Resistance levels: $50,000, $55,000, $60,000
Support Levels: $25,000, $20,000, $15,000
Bitcoin has retraced above $23,000 in the past 24 hours. There is a probability of a price rebound if the current support holds. The largest cryptocurrency will have another opportunity to retest the overhead resistance if the price rebounds. When the buyers overcome overhead resistance, the bullish momentum could pick up further. The price of BTC will reach the highs of $28,000 and $30,000. Conversely, if the bears cause the price to fall below the $23,000 support, the market will fall below the moving average lines. This will accelerate the decline towards the psychological price level of $20,000.
Growing Crypto Adoption and Payout in Croatia Despite Bear Market
According to a report, Croatia has benefited from growing cryptocurrency adoption despite the ongoing crypto winter. Crypto payments in cryptocurrencies like Bitcoin (BTC) have increased in Croatia’s largest supermarket chain, Konzum. A spokesperson indicated that the increase in crypto payments on Konzum goes hand in hand with the growing adoption of crypto in Croatia, stating, “Regardless of the bear market, we are pleased with the interest which continues to grow.
General interest in cryptocurrency payments continues to grow steadily, as well as interest in implementing cryptocurrency payments in Croatia. The supermarket chain has extended the crypto payment option to several self-service cash registers in physical pilot stores. Konzum is also working with local crypto payment company Electrocoin to bring crypto payments to 700 physical stores across Croatia.
Meanwhile, Bitcoin drops slightly as BTC price loses $23,000 support and plunges. The price tends to revisit the psychological price level of $20,000. The price of BTC is at the 54 level of the 14-period relative strength index. This indicates that the market is in the uptrend zone.
Read more:
• How to buy cryptocurrency
• How to buy bitcoins
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