Bitcoin Technical Analysis Report 26 July, 2021

• Bitcoin broke resistance area
• Likely to rise to resistance level 41025

Bitcoin cryptocurrency continues to rise after recently breaking through the resistance area located between the key resistance level 35000.00 (top of the previous waves (1) and B) and the 50% Fibonacci correction of the earlier intermediate downward price move from the middle of June. The breakout of this resistance area continues the active intermediate impulse wave (3).

Given the improvement in risk sentiment as seen across the cryptocurrency markets today (after Amazon announced plans to accept Bitcoin as the payment) – Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 41025 (monthly high from June and the target for the completion of the active impulse wave (3)).

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