Bitcoin climbs back to unchanged on the week in a positive technical jump
21 Jul 2021
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Bitcoin up $1880 to $31,750 today
Bitcoin is riding the risk retracement to a 6.2% rally.
An early sign of the broad turn in markets yesterday may have been bitcon’s ability to hold the June low yesterday. There was certainly ample talk that it was on the brink of a breakdown and sentiment isn’t great at the moment.
Price action is proof though and buyers stepped up.
The bounce here now further underscores the $29,000 or $28,800 levels as critical support. You’d like to see a strong rejection here if you’re bullish but this is a good start.
It’s still a long ways to $42,000.