Bitcoin (BTC) Price Analysis – July 26

  • Bitcoin price resumes after retracement to dare the $10,000 price level.
  • The bulls may face resistance at the $8,500  and $9,000 price levels.

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

Bitcoin Price Medium-term Trend: Bullish

Resistance levels: $8,300, $8,400, $8,500                                                                                                                          

Support levels: $8,100, $8,000, $7,900

Yesterday, July 25th, the Bitcoin price was in a bullish trend, bitcoin retraced to the low of $8,140.50 and resumed its bullish movement on the 12-day EMA. Traders can initiate long trades at the current market price.

It is likely that the bulls may face resistance at the $8,500  and $9,000 price level. If the bulls break the $8,500 price level, the Bitcoin price will reach the high of $10,000 with little resistance at the $9,000 price level. If the bulls fail traders should exit their trades around the $8,500 price level.

Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price of Bitcoin is above the 12-day EMA and the 26-day EMA  which indicates that the bullish trend is ongoing.                                                             

Bitcoin Price Short-term Trend: Bullish.  

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

On the 4-hour chart, the price of Bitcoin is in a smooth uptrend. The 12-day EMA and the 26-day EMA are  trending northward indicating the rise of Bitcoin price. Meanwhile, the RSI period 14 is level 68 which indicates that the price of Bitcoin is in the bullish trend zone.


The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

Weekly Newsletter

Report: Bitcoin Top Performing Crypto for Q2 2019

Michael LaVere
  • Bitcoin outperformed all other crypto-assets in Q2 2019 according to a CoinGecko report. 
  • Top 5 cryptocurrencies now control 86% of the market. 

Bitcoin was the top-performing cryptocurrency in Q2 2019, despite the rocky price volatility hitting the market. 

Bitcoin Dominance

According to a new report published by CoinGecko, bitcoin outperformed all other digital currencies during the second fiscal quarter of the year.

BTC posted a net gain of 165%, compared to the second-highest performing currency of bitcoin cash at +137%. Ethereum placed third at +107%, with litecoin and XRP rounding out the top five at +103% and +28%  net gains, respectively. 

The average return for the top five currencies in Q2 2019 was +108%, showing an overall robust turn in the marketplace for crypto-assets compared to last year. 

top 5 cryptocurrencies coingeckoTop 5 performing cryptocurrencies during Q2 2019 | Source: CoinGecko

In addition to leading the pack in terms of gains, bitcoin also consolidated its market dominance, while EOS and XRP experienced a retraction. 

According to the report,


“Bitcoin’s market dominance increased significantly in Q2 2019, from 54.6% to 65.0% (+10.4%). XRP and EOS lost nearly half of its market dominance. XRP decreased from 9.8% to 5.7% (-4.1%) while EOS decreased from 3.3% to 2.0% (-1.3%).”


While bitcoin’s gain in dominance was impressive, the entire top five separated itself from the general pack of altcoins during the last fiscal quarter. 

The report continues, 


“Almost all other coins lost market dominance in Q2. By end Q2 2019, the top-5 coins comprised approximately 86% of the overall market capitalization.”


Overall Crypto Growth

However, the entire market of crypto increased during that time. CoinGecko called the most recent quarter a “crypto summer,” with total market capitalization for crypto-assets gaining over $200 billion and obliterating previous expectations.

Trading volume also rose steadily, nearly doubling by the end of Q2. 

cryptocurrency market cap trading volume coingeckoTotal market cap and trading volume rose throughout Q2 2019 | Source: CoinGecko

Despite the introduction of Facebook’s libra in June, the price of bitcoin continued to climb on a meteoric rise from $4,000 to above $10,000. CoinGecko reported bullish sentiment growing throughout the quarter, with the original cryptocurrency gaining in positive mentions through social media. 

Bitcoin also eclipsed “stocks” in overall search volume on Google for the first time since Q4 2017, when the price of btc hit its last all-time high.