BTC Takes Its Winning Streak to 4 Days Following 1.21% Gain
2022.07.18 03:53
BTC Takes Its Winning Streak to 4 Days Following 1.21% Gain
- BTC has extended its winning streak to 4 days.
- Market sentiment towards Fed monetary policy that is delivering support.
- BTC’s price now sits at $21,383.27 after a 24-hour gain of 3.98%.
Bitcoin’s (BTC) price has extended its winning streak to four sessions following a 1.79% rise on Saturday. The previous session saw BTC post a 1.21% gain on Friday as BTC ended the day at $21,199. A major reason for the winning streak is the market sentiment towards Fed monetary policy that is delivering support.
A bearish start to the day saw BTC’s price fall to a low of $20,481 before making a move. Coming within range of the first major support level at $20,405, BTC rallied to a high of $21,575.
BTC’s price was then able to rise above the first major resistance level at $21,215 before falling back to around $21,200. Despite this late pullback, BTC held onto the $21,000 level for the first time since July 9.
At the time of writing, the Fear & Greed Index increased from 21/100 to 24/100 – matching the Index level from July 9 and 10.
The most recent move back towards the “Fear” zone, which starts at 25/100, came off the back of a BTC return to $21,000. Bulls now look for a return to the “Fear” zone to support a run up to $25,000.
According to the crypto market tracker, CoinMarketCap, BTC’s price now sits at $21,383.27 after a 24-hour gain of 3.98%. The positive 24-hour performance of BTC’s price has flipped its weekly performance into the positive as well. As things stand, BTC’s price is up 0.34% over the past 7 days.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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