Bitcoin Price Forecast: $70,000 Resistance at Risk-web3.0-php.cn

Bitcoin Price Forecast: $70,000 Resistance at Risk

Jul 22, 2024 pm 08:22 PM

Essentially, this means that following Joe Biden's decision to drop out of the election campaigns, Bitcoin LONG contracts have now exceeded SHORT

Bitcoin Price Forecast: ,000 Resistance at Risk

As Joe Biden bowed out of the election campaigns, Bitcoin LONG contracts surpassed SHORT contracts by an impressive $80 million. This development seems to be influenced by Biden's announcement, which has instilled confidence in investors regarding BTC's short-term price prospects. If bulls maintain this momentum until markets resume on Monday, we could witness a verstärkte Mittelzufuhr in Richtung Bitcoin purchases.

Moreover, considering that bears have mounted $1.20 billion in SHORT positions around the current prices, BTC price is poised to enter an accelerated uptrend if those SHORT contracts are liquidated within a short period.

If this short-squeeze scenario unfolds, BTC price could surge towards $70,000 in the week ahead, especially if Bitcoin ETF investors decide to ramp up buying pressure following Biden's latest announcement.

Bitcoin Price Forecast: $70,000 Resistance Under Threat

Bitcoin's price reached a new 30-day high of $68,477.85 on July 22. Despite a slight pullback, BTC continues to trade above crucial support levels. Currently priced at $67,353.04, Bitcoin appears to be gearing up for a potential upward move as bulls aim to retest the $70,000 resistance level.

A technical analysis of the chart reveals a mixed outlook. The Bollinger Bands (BB) are beginning to widen, indicating increasing volatility. The %b indicator, which measures the price's position relative to the upper and lower Bollinger Bands, stands at 0.87. This signifies that Bitcoin is approaching the upper band, a zone typically associated with overbought conditions. However, a sustained move above this level could indicate strong bullish momentum.

The above is the detailed content of Bitcoin Price Forecast: $70,000 Resistance at Risk. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Detailed explanation of the participation steps of Gate.io Launchpool: From pledge to reward collectionMay 15, 2025 pm 03:03 PM

Gate.io Launchpool is a feature of the Gate.io exchange where users participate in new projects and receive rewards by pledging tokens. The steps to participate include: 1. Log in to the Gate.io account, 2. Go to the Launchpool page, 3. Select the project, 4. Stake the token, 5. Wait for distribution, 6. Receive the reward.

Binance Exchange Website Binance Official Website Binance Official WebsiteMay 15, 2025 pm 03:00 PM

Binance is the world's leading cryptocurrency trading platform. Since its establishment in 2017, it has rapidly risen with its efficient, secure and abundant trading varieties and has become the first choice for cryptocurrency traders around the world. Binance official website not only provides a convenient trading interface, but also provides rich learning resources and community interaction platforms to help users better understand and participate in the cryptocurrency market.

Which u currency exchanges are available in the world? U currency exchange top 10 pointsMay 15, 2025 pm 02:57 PM

The top 10 globally of the u-coin exchange include: 1. Binance, 2. OKEx, 3. Coinbase, 4. Huobi Global, 5. Kraken, 6. Bitfinex, 7. Bittrex, 8. KuCoin, 9. Gemini, 10. Poloniex.

Binance Binance Exchange Official Website Official PortalMay 15, 2025 pm 02:54 PM

To access the official entrance of Binance Exchange, you need to open a browser. To register an account, you need to click the registration button, fill in the information, verify the email address and complete KYC verification. After logging in, you can choose a transaction pair and place an order. Deposit and withdrawal must be operated through the wallet menu. To ensure the security of the account, you must use a strong password and enable 2FA.

Binance official latest v2.99.5 mobile version installation and registration tutorialMay 15, 2025 pm 02:51 PM

As the world's leading cryptocurrency trading platform, Binance's mobile app provides users with a convenient trading experience. Whether you are a novice or a veteran trader, Binance’s mobile app is ready to meet your needs. This tutorial will introduce in detail how to download and install the latest Binance v2.99.5 mobile application and complete the registration process. Please note that the download links provided in this article are all official links, and you can download them safely using the download links of this article, without worrying about security issues.

Binance official website login portal Binance 2025 official website registration and login guideMay 15, 2025 pm 02:48 PM

In today's digital age, Binance has become one of the leaders in cryptocurrency trading around the world. As a platform that provides a variety of financial services, Binance not only provides users with a wealth of transaction options, but also ensures the security of user assets through its innovative technologies and security measures. Let’s explore how to register and log in on the official Binance website in 2025 to start your digital asset management journey.

Binance official website computer version website web version Binance official website entranceMay 15, 2025 pm 02:45 PM

As the world's leading cryptocurrency trading platform, Binance provides users with a convenient trading experience. Whether you are a professional trader or a first-time cryptocurrency user, Binance has your needs to meet. Next, we will introduce in detail how to use the Binance official computer version and web version entrance, as well as some usage tips and precautions.

How much is the transaction fee for Huobi Huobi_How to calculate transaction fee for HuobiMay 15, 2025 pm 02:42 PM

As a world-renowned cryptocurrency trading platform, Huobi's transaction fee structure and calculation method are crucial to users. Understanding this information can help users better plan trading strategies and reduce transaction costs. This article will introduce in detail the specific charging standards for Huobi transaction fees and how to calculate these fees.