Musk Said He Holds BTC, ETH, and DOGE, Then Bitcoin Skyrocketed Yesterday--How Far Would It Go?

 2021-07-22 09:23:44

On July 21, the three most famous Bitcoin boosters in the tech world, Tesla founder Elon Musk, Twitter and Square founder Jack Dorsey, and ARK Invest CEO Cathie Wood discussed the value and potential of cryptocurrency at The ₿ Word conference.  And the price of Bitcoin rose to some extent and reconquered $30K and surged up to $32,820.

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For now, BTC is trading around $31,700 and testing the $32K resistance zone. If it fails to climb above the $32,000, it could start a downside correction and fall below $30,000 again or even further.  Initial support on the downside is near the $31,500 level.

 

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI  – The RSI is now well above the 50 level.

Major Support Levels – $31,500, followed by $31,200.

Major Resistance Levels – $32,200, $32,500 and $33,000.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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