Bitcoin gives investors a chance to make profit as it holds this support
Bitcoin price analysis for July 5, 2022, comes on a bullish note for the world’s biggest cryptocurrency after it was successfully able to retain the $19K price region and was also able to reclaim the $20K price region. Both of these regions are very important for the world’s biggest cryptocurrency.
It seems that BTC is offering interim opportunities to investors to capitalize on a small profit as it continues to hold above $19K. On the other hand, as noted in our BTC price analysis for July 4, 2022, there are still strong signs that BTC can lose the $19K price region in the near future unless it breaks out towards $30K.
The data from CoinMarketCap shows that the trading volume of the token surged by 51.95% in the last 24 hours, followed by a 6.06% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.06083, while the Market Dominance rose to 42.34%.
The daily candle for the token opened at a price of $20236 and reached a daily high of $20478. On the other hand, the daily low for Bitcoin stands at a price of $20159. The price of 1 Bitcoin at the time of writing is $20293.
Bitcoin price analysis for July 5 on the daily chart
Bitcoin price analysis for July 5, 2022, will consider the data from the daily chart below with three major indicators integrated into it.
Source: TradingView
The RSI indicator reads a value below 38 confirming that Bitcoin has jumped straight from the bearish region of the Bands.
The MACD indicator shows that the MACD line is moving away from the signal line and the MACD histogram remains bullish.
The price action for Bitcoin is retesting the middle region Bollinger Bands and is very close to breaking out into the bullish region.
Conclusion
Bitcoin price analysis for July 5, 2022, ends on a bullish note for BTC as 19K support holds for the time being.
