Bitcoin price analysis for July 14, 2022, comes on a sluggish note for the leading cryptocurrency in the market. It seems that the chances of making higher highs in the coming days are low as we can see that bears have once again regained control of the pice action of the world’s biggest cryptocurrency. In the last 24 hours, the token was able to reclaim the $20K price region but was not able to push through it and as a result, we can see that BTC has dropped below the $20K price level. However, it is possible that we may BTC back above $20K soon.
As noted in our BTC price analysis for July 13, 2022, there are huge chances of the token losing the $19K price level in the coming days as well.
The data from CoinMarketCap shows that the trading volume of the token surged by 35.39% in the last 24 hours, followed by a 2.12% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.09334, while the Market Dominance rose to 42.69%.
The daily candle for the token opened at a price of $20234 and reached a daily high of $20435. On the other hand, the daily low for Bitcoin stands at a price of $19894. The price of 1 Bitcoin at the time of writing is $19888.
Bitcoin price analysis for July 14, 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 41 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 is retesting the middle zone of the Bollinger Bands and higher prices might follow.
Bitcoin price analysis for July 14, 2022, ends on a bearish note for BTC with low chances of reclaiming $20K in the near future.
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