With the Bart Simpson, we briefly hit a six-week high, before dropping back to $23,300. In any case, we ended the month of July volatile. Liquidations were limited as a result of the price action, totaling $150 million in the past 24 hours.
Successful retest of key trendline
With the rebound toward the end of the month, Bitcoin has successfully tested the 200-week moving average as the chart’s strong point. After we briefly bivouacked below this important trend line, the line now appears to be a support for the price again.
Although we are currently operating far from the all-time high of November 2021, some positivity is starting to creep back into the market. Bitcoin, for example, posted a 19 percent price gain in July, marking the largest monthly price gain since October 2021.