Does Bitcoin have any power left to keep the growth going to $25,000?
Bulls keep dominating as most of the coins remain in the green zone.
BTC/USD
The rate of Bitcoin (BTC) has risen by almost 4% over the last 24 hours.
On the hourly chart, Bitcoin (BTC) is trading in the middle of the narrow channel between the support at $23,452 and the resistance at $24,445.
If buyers can hold the price above $24,000, the breakout of $24,000 may lead to the test of the $25,000 mark soon.
On the bigger time frame, Bitcoin (BTC) is also looking bullish as bears could not seize the initiative after the false breakout of the $24,280 mark. If the daily candle closes near this level, there are high chances to get to the $25,500 area within the next few days.
From the midterm point of view, Bitcoin (BTC) keeps rising after the false breakout of the mirror level at $22,000. In this case, the more likely scenario is the test of the nearest resistance at $25,400 until the end of the upcoming month.
Bitcoin is trading at $24,055 at press time.
Source: https://u.today/bitcoin-btc-price-analysis-for-july-29