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Bitcoin price remained supported above the $22,650 level against the US Dollar. BTC could rally if there is a clear move above the $23,500 resistance zone.

Bitcoin price remained above a major support zone near the $22,400 and $22,500 levels. The price started a decent increase above the $22,800 and $22,950 levels.

The upward move was such that the price climbed above the $23,000 level and the 100 hourly simple moving average. The price surpassed the 50% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low.

Besides, there was a break above a key bearish trend line with resistance near $23,200 on the hourly chart of the BTC/USD pair. The pair is now trading near the $23,300 level.

It is struggling near the 76.4% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low. The next key resistance is near the $23,500 zone. A close above the $23,500 resistance zone could start a steady increase. In the stated case, the price may perhaps rise clear the $24,500 resistance.

If bitcoin fails to clear the $23,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $23,100 level.

The next major support now sits near the $22,750 level. A close below the $22,750 level might start a move towards $22,500. Any more losses might send the price towards $22,000 level.

Technical indicators:

Hourly MACD The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is now above the 50 level.

Major Support Levels $23,100, followed by $22,750.

Major Resistance Levels $23,500, $24,200 and $24,500.

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TA: Bitcoin Price Could Rally If There Is A Close Above This Key Resistance - NewsBTC

Bloomberg Analyst also highlighted the importance of tasks, who have repeatedly shown a remarkable relationship with bitcoin. The bottom line is that there are somewhat more powerful forces in the markets when the stock market falls at the same pace as it did in 1H, he said.

McGlone also insisted The key role played by the Federal Reserve Which is doing aggressive rate hikes in 2022. This development could create headwinds for riskier assets such as cryptocurrencies and stocks by increasing the returns paid by less risky securities and making them more attractive.

Fight fight the Fed has been my mantra for riskier assets since late last year, he said, adding that Bitcoin and cryptocurrencies were an important part of the 2021 race and therefore part of the 2022 discharge, but I see bitcoin and ethereum coming next,

,Bitcoin on its way to becoming a global digital security In a world that is running like this and Ethereum is a major driver of the digital revolution, as evidenced by making possible the most widely traded cryptocurrency: the dollar token, McGlone said.

Bud White, co-founder and chief product officer of crypto software company Tassen, also weighed in on the matter, stating that the digital currency is currently trading well below its actual value,

I believe bitcoin is not only incredibly oversold, but it is also in a major accumulation zone. With bitcoin every price increase, We increase both its market value and utility value, he indicated.

If you look at the market cap, or MVRV, of bitcoin at its real value, we see it around one, which suggests that the market cap of this asset has dropped to its true utility value, White said. This also tells me that the massive selloff we have experienced in recent months due to Terra, Three Arrows and LOT has a relatively small number of forced sellers staying in the market. So Bitcoin It appears that $18,000 . have a very solid baseline at or near , He continued.

White said that despite strong support near the above price level, Bitcoin Is Hovering Near $23,000 Recently, Until now, and keep in mind that cryptocurrency prices can change rapidly and dramatically, this has been very high despite the employment report coming in, White said.

,Looks like markets are already pricing in monetary tightness These sky-high figures resulted in an even more aggressive outburst by the Federal Reserve. Stocks are down and yields are up, said the expert. And then, bitcoin is just floating, said the market watcher.

I am not saying that we are experiencing a separation of bitcoin from stocks. Certainly we may be down another leg in terms of the price of bitcoin. But this relative strength tells me that Most bitcoin sales may be overdue , And barring any external shocks to the markets, such as credit markets looking to be on the verge of a breakdown, I think investors still see bitcoin as a good buy at these levels, White said.

While White was discussing bitcoins recent price resistance, Tim Enning, managing director of Digital Capital Management, said that the cryptocurrency There may be a retest of recent lows below $18,000which arrived in June.

Bitcoin has made a good if not completely reassuring change, of US$20 thousand as recent resistance (as of 15 July) to support (after that date, tested once on 26 and 27 July, and solidly up since then), Ennejing said. He added: Although it has been a good move Yes, it has been quite slow and, apparently, uncertain, especially given the pause of the summer.

As a result, most people are still hedging their bets on whether BTC will retest the June 18 low at $17.6k. Going forward, I would expect a more general slide, a slight positive move, and this That the floor will not be retested. It is a 50-50 proposal if $20,000 will be retested, he said.

According to the Crypto Fear and Greed Index provided by Alternative.me, investor sentiment has steadily strengthened in recent weeks. This index, which ranges from zero The 100 for extreme fear and extreme greed is currently at 31, indicating fear.,

The figure has been on an upward trend since June 19, when it reached a value of six, indicating a state of extreme fear. Too, Index remains at 20 or higher since July 18 ,

Armando Aguilar, an independent crypto analyst, commented on how the measure has changed in recent weeks. ,fear and greed index From the low 20s after the big crash of some crypto protocols and service providers, he said.

Investors have returned to buying the digital asset and the fear indicator has moved towards the yellow/buy zone, Aguilar said. ,Historically, when the index was 30. , the market has seen an uptick in prices, He continued.

Aguilar provided a comprehensive analysis assessing the big picture. ,There are still hidden macroeconomic and geopolitical pressuresSo if stocks take a hit and investors exit the riskier asset, bitcoin could hit previous lows, he said. However, given the current environment and if bitcoin is able to break above the resistance level, So it could experience a positive price increase, Aguilar concluded.

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Bitcoin In The Price Race: What's Next For The Cryptocurrency According To Crypto Gurus - Nation World News

Following the long and painful cryptocurrency market downturn in April and June that sent the king coin, Bitcoin, and the leading altcoin, Ethereum chasing terrifying lows, the bulls regained their strength in July.

With its price still a far cry from its November 2021 all-time high, Bitcoin grew by over 18% within the 31-day period. Closing the month at an index price of $1680, ETH the leading alt also grew by 54%.

The blockchain analytics platform, Santiment, in its latest report noted that two leading cryptocurrencies made significant strides on the chain within the 31-day period.

Since the beginning of the bear market when the year started and BTC and ETH started to move further from their all-time highs, sentiment from the trading crowd has been negative, as per analytic firm Santiment.

However, as the prices of these assets corrected in July, traders confidence was restored and Santiment found that traders now hold the belief that prices can organically continue to rise after an impressive July.

Reportedly, in the last six months, as the price of the king coin fell, key stakeholders became increasingly skeptical of accumulating the coin.

The reason for this might be attributable to fears of inflation or further rate hikes upcoming in September (after the latest one was announced last week), waning covid concerns, or ongoing wars in Ukraine.

Moreover, in the last six months, key stakeholders holding 100 to 10,000 BTC let go of 2.26% of the BTC supply, Santiment reported.

On a social front, Bitcoins social dominance maintained its high in July. According to Santiment, the downturn in the market woke traders up and have them flock away from their shitcoins, and back into the relative safe haven, Bitcoin.

Hence, the growth in social dominance. A look at ETH also revealed the same pattern of growth in its social dominance within the same period.

Furthermore, within the 31-day period, Santiment found that on 26 July, the ETH network logged an index of 1.06 million daily active addresses. It was at an all-time high.

As for BTC, the highest it logged in daily active addresses in July was 994,000 which were registered on 19 July.

Finally, Santiment revealed that in July, ETH became extremely cheap to move. This was a result of the decline in circulation of Ethereum since the beginning of the year.

In July, the cost of transacting on the ETH network fell significantly. Thus, coins were moved around more cheaply.

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Will Bitcoin [BTC] along with Ethereum [ETH] 5x this month - AMBCrypto News

Cryptocurrency payments and transactions are gaining worldwide popularity. The nations that were once picked skeptical about its usage and now embracing this concept with open arms. After receiving a ban from nations like China, Bangladesh, and other parts of the world, there was a steep fall in the pricing of bitcoins. However, over a period of time, this changed, and now countries like Sweden, Finland, Israel, Canada and USA have embraced the concept of crypto currency.

Apart from the ease of transaction the reason crypto currency is gained popularity is because of the concept of cryptographic. Patient is looking for a safer mode of transaction and crypto currencies can be one of the solutions. Since all the transactions that are operated with cryptocurrency or interrupted crypto graphically. It makes it difficult for the hackers in the breaches to change the ledger or bring alter the data. This makes the crypto currency transactions safer and the nations that were once refuting its usage or now accepting it.

Countries Leading The Charge In Bitcoin Adoption

Bitcoin has gained popularity in the last few years, with many large online retailers starting to accept it as payment. But which countries are adopting Bitcoin the fastest? In this article, well look at three countries leading the charge in Bitcoin adoption, along with their main selling points and the potential barriers that prevent them from moving even faster in accepting this crypto-currency.

Below highlighted is a tabular representation of the countries and their cryptocurrency holding-

Countries like Vietnam, Pakistan, and India that have triggered the cryptocurrency growth on a global level. With a wider acceptance of cryptocurrency across the global platform, we can surely conclude that investing in cryptocurrency will be a profitable deal considering future growth.

Hence it is important that investors who are willing to make good profits should consider investing in cryptocurrencies. Choosing the right trading platform is of utmost importance as it helps traders stay on the right track of investment.

Choosing The Right Crypto Exchange Platform- What You Need To Know

Certainly has nothing to do with cryptography, but to ensure security and safety while doing online transactions, it is important to register on a reliable crypto exchange platform to know about what is a bitcoin trading robot.

Make sure your chosen crypto exchange platform keeps your information safe and secure. Hence, it is important to run through the companys privacy policy so that You Are aware of the details of the crypto exchange platform. Make sure that you do thorough research about the platform before registering.

Conclusion

This was brief information on cryptography and its significance in ensuring a safe currency exchange or transaction. In the times to come, there is going to be a much wider application of cryptography not only in the field of cryptocurrency but in other fields as well.

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Originally posted here:
Top Countries That Have the Most Open Attitude Towards Bitcoin - jim o brien