Analyst Vladislav Antonov predicts the price of Bitcoin for the period from July 17 to July 23. 🕐🔮
The professional carefully analyzed the current situation on the market and shared his forecasts about the near-term future of the Bitcoin exchange rate. 💼📊
💡 The week from July 10 to July 16 turned out to be quite calm, although some volatility was observed at the end of the period. 🌊
There has been a slight rally in the cryptocurrency market for two main reasons.
First, Ripple won a partial victory in its lawsuit against the SEC, and this affected investor sentiment.
Secondly, the dollar fell on the Forex market, which also had a positive impact on Bitcoin. 💥💰
U.S. District Court Judge Analisa Torres has ruled that Ripple Labs' XRP token is not a security in certain scenarios. This became an additional incentive for the growth of the cryptocurrency market. 🛡🚀
At the same time, the dollar index fell to 99.26 points due to slowing inflation in the US, which reduced expectations of a Fed rate hike. Experts note that in June, producer prices in the United States rose at the slowest pace since September 2020, which was below expectations. 💲📉
At the end of trading on Friday, July 14, Bitcoin fell by 3.63% to $30,312. On this day, buyers were unable to maintain the success achieved in previous days, and profit-taking began. Also, the mood in the market was slightly dampened by negative data on consumer inflation and producer prices, which affected the stock indices and the dollar. All this provoked investors to suspend euphoria and be cautious before a possible appeal from the SEC. 💔📉
It should be noted that the dollar remains vulnerable amid risk sentiment and falling Treasury yields.
Expectations for a Fed rate hike after July have weakened, and all that remains is to wait for clear instructions from the regulator. 🤔🔍
Judging by the daily BTC/USDT chart, a Bearish Engulfing candlestick formation has formed, indicating a possible correction to the level of $28,800 - $29,000. However, given the overall upward trend throughout the week, buyers may be able to cope with this fall. However, the dollar index broke through strong support at 100.80, paving the way for further declines to 98.20. 📉📈
️Next week will have a serious impact on the Bitcoin rate.
If buyers fail to cross the $31,500 mark by July 22, they may face seasonal pressures. However, the target zone in the region of $34-35 thousand still remains relevant.
Investors should remain vigilant and prepared for changes in the market. 📉📊
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