Bitcoin on July 25, 2022 – Ready for a Decisive Week?

It’s red – After a weekly close that ended for the moment with hopes of the start of a bullish recovery in the very short term, the price of Bitcoin (BTC) must now face a difficult week.

This Bitcoin price analysis is brought to you in collaboration with the Coin Trading and its algorithmic trading solution finally accessible to individuals.

A close in the red for the price of Bitcoin

The price of bitcoin drops to $21,557 on Bitfinex today, July 25, 2022, before rallying back to $22,000. The cryptocurrency is trading at $22,160 at the time of writing. Its price is currently recording a daily loss of 2.49%.

Markets were closely watching the weekly closing level of the previous week. The bulls could have given a strong bullish signal, but the bears finally got the last laugh.

Publication of Rekt Capital – Source: Twitter

As trader Rekt Capital reports, Bitcoin closed this period below the 200-week moving average. This level continues to act as resistancenot as essential bullish support to support a sustainable recovery.

BTC price: FED week, bear period

This beginning of the week is marked by the anticipation of the markets, the possible impacts of the decision of the US Federal Reserve (FED) on interest rates, this July 27.

Material Indicators Co-Founder Keith Alan Backtracked On Bitcoin’s Rejection From The 200-Week Moving Average, And The Cryptocurrency Not “Having A Full Candle Above” The Moving Average of 50 weeks.

BTC price: fragile supports
Published by Keith Alan – Source: Twitter

The next support would then be at the 21-week moving average – in green in the graph – “then from the micro trend line below”.

The Material Indicators Twitter account, however, has reacted to these analyses, assuming that there was no no guarantee that a support will hold after the Fed’s announcement on Wednesday.

Calm markets, before the next move

Traders and analysts expect to provide it in the markets this week, with this upcoming announcement from the FED. Other observers, however, issue more nuanced discounts.

Umar Ashraf, founder of the TradeZella trading tool, recognize as well as this week will see major events, with “tons of big names” posting their results, the FOMC meeting starting July 26, followed by the Fed’s announcement the next day.

Umar Ashraf recalls that “an important week does not mean not always that the market has to take action “. The markets could digest the information during this period, “in view of the next stage”.

Has Bitcoin’s technical rebound already come to an end, given the latest weekly closing level, and the likely jolts to come? If this is indeed the case, the bearish outlook for Bitcoin price well below $20,000 could come back strong on social media.

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