Bitcoin price weekly outlook: BTC bulls await breakout above 50-day EMA

Cointelegraph

Published Jul 25, 2021 07:43AM ET

Updated Jul 26, 2021 12:00AM ET

A four-day winning streak brought the Bitcoin (BTC) prices closer to testing its 50-day exponential moving average (~$35,115) as resistance.

The wave, which was instrumental in strengthening Bitcoin's bullish bias across 2020 as support, flipped to become a resistance during the May 2021 sell-off. In doing so, it capped the cryptocurrency from extending its upside rebound moves many times.

Bitcoin's 50-day EMA as resistance. Source: TradingView.com
Bitcoin 50-day EMA fractals. Source: Rekt Capital, TradingView.com
Bitcoin versus leading Wall Street indexes and the Us dollar index. Source: TradingView.com

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