BTC Hovers around $37,000 mark, Further Positive Sentiment Likely only above $39,000 mark; July 27, 2021

Bitcoin strengthened sharply in previous session and touched $40,580 mark but unfortunately failed to find support above $40,000 mark. Today BTC trades marginally lower and hovers around $37,000 mark.

Top 5 Headlines on Digital Currency:

  • William Cai, co-founder of the New York-based investment firm Wilshire Phoenix said that investors in the United States may have to wait till 2023 before regulators approve a Bitcoin ETF – Investing.
  • Goldman Sachs asset-management arm filed an application Monday with the U.S. Securities and Exchange Commission to offer an exchange-traded fund focused on securities of cryptocurrency – related companies – Investing.
  • Amazon will start accepting Bitcoin as a payment option by the end of the year but on the other side, Amazon has refuted recent speculation it may be readying to support Bitcoin payments, asserting it currently has no plans for BTC- Investing.
  • The founder of investment management firm Michael Lee Strategy says that “the best days of bitcoin are definitely ahead of it,” expecting the cryptocurrency to “make all-time new highs.” – Invest ing.
  • Tesla, Elon Musk’s electric car manufacturer, reports $23 Million Impairment from its Bitcoin holdings – Investing.

Technical View:

  • Bitcoin trades noticeably lower on Tuesday and trading around $37,000 mark.
  • The pair made intraday high at $37,541 and low at $36,386 mark.
  • Today a day chart is bearish but H1 chart with triple EMA confirms bullish trend in short run.
  • A sustained close above $39,730 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $36,500 will check further supports.
$35,280 $40,570
$34,700 $40,790
$34,150 $40,911
$33,940 $41,050
$33,600 $41,222

Take a look and do trade wisely!
Good Luck

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