Bitcoin shoots up 2% despite rising inflation levels

Bitcoin price analysis for July 15, 2022, comes on a slightly bullish note for the world’s boggest cryptocurrency aswe can see that the BTC token has jumped to the mid-20K price region in the last 24 hours with a 2% price surge. However, as per official CPI data, the inflation levels continue to rise and it seems that BTC will remain unbothered and aim for the $21K price zone. The leading cryptocurrency has currently found strong support at the $19K price level which holds for now. It will be interesting to see if in future this support retains or not.

As noted in our BTC price analysis for July 14, 2022, the token went bearish but suddently buyers took charge and Bitcoin successfully breached $20K. However, we cannot expect prices to stay here for long if $22K is turned into a support level.

The data from CoinMarketCap shows that the trading volume of the token dropped by 4.55% in the last 24 hours, followed by a 2.12% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.07969, while the Market Dominance dropped to 42.51%.

The daily candle for the token opened at a price of $20234 and reached a daily high of $20900. On the other hand, the daily low for Bitcoin stands at a price of $19616. The price of 1 Bitcoin at the time of writing is $20571.

Bitcoin price analysis for July 15 on the daily chart

Bitcoin price analysis for July 15, 2022, will consider the data from the daily chart below with three major indicators integrated into it.

Source: TradingView