Bitcoin price analysis for July 13, 2022, comes on a slightly bullish note for the leading cryptocurrency in the crypto market as we can see that the BTC token has jumped by nearly 2% in the last 24 hours and it seems that the bulls aim to reclaim the $20K price region in the coming days. However, to do so, the world’s biggest cryptocurrency will need a significant influx of money from institutions as well as private investors in the near future.
As noted in our Bitcoin price analysis for July 12, 2022, there is a huge resistance for the token beyond the $22K price region while the nearest support for the token lies towards the $19K price level which current holds desptite multiple retests of the same.
The data from CoinMarketCap shows that the trading volume of the token surged by 3.55% in the last 24 hours, followed by a 0.50% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.07079, while the Market Dominance rose to 42.91%.
The daily candle for the token opened at a price of $19331 and reached a daily high of $19930. On the other hand, the daily low for Bitcoin stands at a price of $19265. The price of 1 Bitcoin at the time of writing is $19891.
Bitcoin price analysis for July 13, 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 40 which means that the sellers are still dominating the price action of Bitcoin.
The MACD line is moving very close to the signal line and a bearish divergence might follow soon.
The price action for Bitcoin completed a retest of the lower zone of the Bollinger Bands.
Bitcoin price analysis for July 13, 2022, ends on a bearish note for BTC with low chances of reclaiming $20K in the near future.
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