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- Bitcoin price coils in triangular fashion as the bears have rejected auctions at the $20,000 price level.<\/strong><\/li>\n
- Ethereum price witnesses historically low gas fees prompting an underlying bullish sentiment yet to be seen in the technicals.<\/strong><\/li>\n
- Ripple price is denied mid-$0.35 entrance and prepares for a sharp move.<\/strong><\/li>\n<\/ul>\n
The cryptocurrency market is at a make-or-break point. Key price levels have been defined below to keep track of future directional bias.<\/p>\n
Bitcoin price has investors’ fingers crossed<\/strong><\/h2>\n
Bitcoin price at the time of writing trades at $19,440 as the bears are suppressing the peer-to-peer digital currency<\/a> on the 4-hour chart. The persistent back-and-forth price action witnessed to start the month of July has developed a coiling-like pattern that could steer\u00a0long-term investors<\/a>\u00a0away from jumping in until a definitive breach occurs.\u00a0<\/p>\n
Still, the market leaves opportunities for those willing to engage. Crypto Analyst @Ali_Charts forecasted a potential sell signal during the Asian trading session, noting that the Bitcoin price would \u201ctrigger a brief correction to $19,720 or even $19,500\u201d if the BTC price failed to hurdle the 20,800 barrier. On July 5, 2022, Ali\u2019s 1-1 trade setup was fully validated as the bears flexed a large bearish engulfing candle on the 12-hour chart.<\/p>\n
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@Ali_Charts<\/a><\/small><\/strong><\/p>\n
Bitcoin price is still within bounds of the coiling-like pattern and should be observed closely to participate in the\u00a0next directional move<\/a>. A breach below $18,635 could be the straw that breaks the camel\u2019s back, as bears will likely hold onto shorts until targets at $15,500 and potentially $14,700 are reached.\u00a0<\/p>\n
On the contrary, a decisive close above $20,800 could\u00a0resolve<\/a>\u00a0the consolidative pattern with a bullish rally targeting $23,000 and potentially $24,700, resulting in a 20% increase from the current Bitcoin price<\/a>.<\/p>\n
![\"TM;BTC\/7\/5\/22\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCUSD_2022-07-05_11-35-14-637926399697061126.png\")
<\/p>\nBTC\/USDT 12-Hour Chart<\/small><\/strong><\/p>\n
\n - Ethereum price witnesses historically low gas fees prompting an underlying bullish sentiment yet to be seen in the technicals.<\/strong><\/li>\n