The Bitcoin price fell towards the $9040 mark on the 16th of July. Lingrid, the TradingView analyst, expects that the cryptocurrency king may see a rise in its price ahead.
1-Day Bitcoin price analysis
Bitcoin price chart by Trading View
For the day’s highest, Bitcoin was priced at $9216.20 US Dollars, while BTC fell to a day’s low of $9038.90 US Dollars. At the time of writing, Bitcoin was observed trading at $9133.36 US Dollars.
What to expect from Bitcoin’s price?
Lingrid is a TradingView analyst who believes that the BTC price will see an uptrend soon.
Bitcoin price chart by Trading View
The analyst drew a wedge trading pattern over the 4-Hour BTCUSD chart. The BTC price has been observed falling towards the support of the wedge pattern near the $9090 mark. The analyst believes that this ascending trendline will allow the cryptocurrency king to move towards the resistance of the wedge pattern, which lies near the $9750 level.
What’s next for BTC?
Alan Master is another TradingView analyst who has used the 4-Hour chart to draw a technical analysis for the BTCUSD pair.
Bitcoin price chart by Trading View
The analyst highlighted that the cryptocurrency has been trading below a descending trendline (purple) since the 8th of July. The analyst believed that the cryptocurrency would see further downward movement on the charts, where they stated that the first target price for the cryptocurrency is $9139. BTC price fell to the said price level on the 16th of July.
The next target prices, as stated in the idea, are $9041, $8918, and $8781. All of these were described as short-term targets.
However, the analyst also stated that if the price moves and closes above the 200-Day Moving Average, at $9283, then a bullish scenario may come into play.
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.
Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
