Price Analysis

Bitcoin May Drop To $19K Soon, Will BTC Price Consolidate Below $30K Till 2022 End?

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Jul 31, 2022

news-image

Bitcoin price is currently consolidating just below $24,000 after facing rejection at $24,400 during the previous trading day. Despite the current consolidation, the asset displays huge possibilities of breaking out from the bullish pattern and hitting $25,000 at the earliest.  

Conversely, the BTC price is expected to visit the buying zone once again by tanking down below $19,000 in the coming days. Moreover, according to a popular analyst, the asset is expected to tank down to $15000 and after the rebound, may remain consolidated at $31,500 until the end of 2022. 


The analyst further says to his 58.2K followers that he would consider buying Bitcoin when the asset slips down to these levels. Presently, the BTC price is trading within a clear diamond pattern which signals a bullish or a bearish reversal or continuation of an existing pattern. Here, an interim battle between the buyers and sellers is going on which may result in an intense breakout in either direction.

bitcoin

Bitcoin is expected to break in any of either direction during the upcoming weekend as these times record a drop in liquidity. Therefore, the trend can be reversed pretty easily in either direction. However, with the beginning of the fresh week trade, the price movements may witness a reversal. 

Collectively, despite Bitcoin appearing bullish, notable volatility is expected to lay down a notable price action during the weekend. Therefore, the monthly closure is expected to be on a bullish note but also carries a fear of significant pullback. 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button