Bitcoin might end the year above $30K: Set to retest $19K in the short term

Bitcoin price analysis for July 08, 2022, comes on a slightly bullish note for the world’s biggest cryptocurrency but we can confirm that the chances of the token breaking the $22K price remain low. Furthermore, we also saw BTC reclaim $22K for a brief moment but it failed to retain prices above this region and as a result, might drop to $20K and then $19K in the coming days. However, there is huge support at the $19K price region which the bears haven’t been able to breach, as per our BTC price analysis for July 7, 2022.

Interestingly, the long-term BTC price predictions are bullish, according to data from WalletInvestor and BitcoinWisdom. WalletInvestor predicts that BTC will end 2022 at an average price of $35,416 while BitcoinWisdom predictions that BTC will end 2022 at an average price of $30,524.

The data from CoinMarketCap shows that the trading volume of the token surged by 28.74% in the last 24 hours, followed by a 7.20% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.07047, while the Market Dominance rose to 43.27%.

The daily candle for the token opened at a price of $21624 and reached a daily high of $22527. On the other hand, the daily low for Bitcoin stands at a price of $21578. The price of 1 Bitcoin at the time of writing is $21817.

Bitcoin price analysis for July 8 on the daily chart

Bitcoin price analysis for July 8, 2022, will consider the data from the daily chart below with three major indicators integrated into it.

Source: TradingView