2.2 C
9 December 2021
Image default

Bitcoin News Today – Headlines for July 27

  • Bitcoin breaks over its multiyear hurdle and hits a new monthly high at $10,315
  • Analysts expect Bitcoin to break over $10,500, $11k, $14, and even $16k
  • Bitcoin carries Ethereum and most altcoins along

Bitcoin News Today – Bitcoin (BTC) and the majority of coins have been in the green over the past two days. The world’s most dominant digital currency is enjoying a bullish ride, as it just broke over its multiyear hurdle. The digital currency is now trading well over the $10k mark. Bitcoin bulls are now heading for the $10,500 mark after it managed to close and rallied to $10,315.

Bitcoin Finally Breaks over the $10k Mark

Within the last couple of hours, the price of Bitcoin surged over $10k to set a new monthly high of $10,315. This sharp rally came after a rather uneventful weekly close that saw Bitcoin close over a crucial multi-year descending trendline on CoinMarketCap. A couple of hours after the close, the price of Bitcoin amassed more bullish traction and surged over the $10,100 hurdle point.

Analysts are now expecting the digital currency to hit and break over the $10,500 mark. Over that level, the expectation is ranging from $11k, $14k, and even $16k. The digital currency has recorded notable gains over the past few days. Since rising from around $9,142 on July 21, the price of Bitcoin is up by 12.76 percent, and it has not retested its underlying support around the $9,450 mark.

Bitcoin (BTC) Price Today – BTC / USD

# Name Price 24H %
1 Bitcoin(BTC) $10,350.55 4.44%

There is a CME gap at $9,615 that is yet to be filled. Due to the importance traders attribute to CME gaps, any downtrend below the $9,800 mark would increase the chances of the gap being filled. The last two moves over the $10k mark happened on high volume surges. This means traders should pay close attention to the buy and sell volume on the one and four-hour timeframe to determine if the digital currency can continue surging higher.

If the digital currency starts a downside correction, the immediate key hurdle is around the $10,100 zone. However, a strong downside correction could push the price of the digital currency towards the $9,800-$9,900 zones, where the price may consolidate.

Altcoins Take a Bullish Ride with Bitcoin

Bitcoin is not the only coin experiencing these massive bull runs. The price of Ethereum (ETH) also surged higher as Bitcoin tested a new monthly high. At press time, Ethereum is changing hands at $323 after an increase of about five percent over the past day. Over the $317 mark, traders are expecting Ethereum to hit its June 26 high at $367. Since July 21, the price of Ethereum is up by about 40 percent. Most of the top 20 altcoins on the market also saw some marginal gains.

News Source

Related posts

Price Analysis 8/7: BTC, ETH, XRP, BCH, BSV, LTC, ADA, LINK, BNB, CRO




Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Ethereum Classic – European Wrap 31 July


Leave a Comment