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The Bitcoin price line moved towards the $9225 mark on the 15th of July after falling below $9180. Crypto analysts expect that BTC price will see an uptrend soon.
1-Day Bitcoin price analysis
Bitcoin price chart by Trading View
Bitcoin traded at $9224.09 US Dollars at the time of writing.
Will Bitcoin price rise to $9730?
Atlas Trades is a TradingView analyst who has drawn a descending triangle trading pattern for the BTCUSD trading pair on its 4-Hour chart.
Bitcoin price chart by Trading View
Currently, the analyst has shown the cryptocurrency’s price at the support floor of the triangle and they expect it to move towards the resistance above the $9300 mark. The horizontal support level is drawn at the $9100 mark, while the horizontal resistance level is placed at $9730.
The analyst is of the opinion that the cryptocurrency may reach the $9730 resistance after breaking above the descending triangle trading pattern.
What to expect from Bitcoin’s price?
Francisco is another TradingView analyst who believes that the BTCUSD pair will ascend across the $10000 mark.
Bitcoin price chart by Trading View
The analyst showed the trading pair inside a parallel channel where currently, it appears to accumulate. The baseline signals show a long trade for the cryptocurrency, while the Chaikin Money Flow (CMF) technical indicator also depicts a long signal. The volume has also decreased during the downtrend and the cryptocurrency is expected to break the resistance level of this parallel channel. The resistance for the channel lies above $9800.
If the cryptocurrency king BTC breaks above this accumulation channel as shown in the chart above, the cryptocurrency’s price is expected to rise towards $10862.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
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Taha Farooqui
Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.
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