TRENDING:
US CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Technical Analysis: BTC/USD stays around $9,300 while the number of holders hits 20 million

  • BTC/USD is under a slight consolidation period trading at $9,260.
  • The number of Bitcoin holders has hit 20 million for the first time ever.
Bitcoin Technical Analysis: BTC/USD stays around $9,300 while the number of holders hits 20 million
Lorenzo StroeLorenzo StroeIndependent Analyst
BTCUSD

Bitcoin has been trading sideways for practically the past two months, however, that hasn’t stopped investors and new users to continue buying Bitcoin. According to a recent report by Daniel Ferraro, the number of addresses holding Bitcoin reached 20 million on July 1 after a steady uptrend for the past year. 

BTC/USD daily chart

BTCUSD

Even with the significant price surge on July 6, Bitcoin remains quite flat at $9,262 and is still facing the crucial $10,000 resistance level. Right now, Bitcoin only cares about two levels, $9,000 as support, and $10,000 as the resistance. Buyers and sellers have managed to push Bitcoin above $10K before and below $9K but never with enough continuation. 

BTC/USD 4-hour chart

btcusd

Clearly, the 4-hour chart is in favor of the bulls and in an uptrend. The current consolidation is definitely healthy and buyers are now looking for another leg up above $9,375.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.
XRP falls toward key support as macro uncertainty, weak momentum cap recovery

XRP falls toward key support as macro uncertainty, weak momentum cap recovery

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) remain under pressure on Friday as the broader cryptocurrency market extends its losses over 4%, 2.5% and 5%, respectively, this week.
Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum (ETH) is down 0.7% on Thursday as the second-largest cryptocurrency looks to recover from earlier pressure following the release of stronger US inflation data. The Producer Price Index (PPI) for final demand rose 0.4% in August, matching market expectations after a revised 0.1% increase in July, according to the US Labor Department.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.