Bitcoin Price Prediction: The Risks of BTC/USD Collapse Below $9,000 Are Growing

Bitcoin (BTC) Price Prediction – July 16

Today, BTC/USD bears are trying to push their agenda and threatening $9,000.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $9,500, $9,700, $9,900

Support Levels: $8,700, $8,500, $8,300

BTCUSD – Daily Chart

BTC/USD has been drifting lower since the start of the day amid global sell-off on the cryptocurrency market. Currently, the king coin is now moving within a short-term bearish trend because the volatility is high. BTC/USD may be vulnerable to further losses as the RSI (14) on the intraday chart points downward.

However, from the longer-term point of view, BTC/USD is still in the range as long as the lower boundary of the recent consolidation channel $9,000 remains unbroken. Bitcoin is now way below the 9-day and 21-day moving averages but the bulls still have time to close above it in the next few hours. Meanwhile, the $9,000 level … Read more

29{998ff540fe94a59c7c9828c4dd5223100610db67cea90947d11644c77e05f5f4} of UK businesses to cut jobs in next three months, survey says

British Chambers of Commerce reports big firms more likely to cut jobs than smaller businesses

Almost a third of companies plan to make job cuts in the next three months as the government prepares to wind down its furlough scheme, one of Britain’s leading business lobby groups has warned.

Sounding the alarm amid warnings of a steep rise in unemployment, the British Chambers of Commerce (BCC) said 29{998ff540fe94a59c7c9828c4dd5223100610db67cea90947d11644c77e05f5f4} of businesses in a survey of 7,400 firms planned to cut the size of their workforce in the next three months.

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Bitcoin Price Prediction: BTC/USD Consolidates After Creating New Support; Can $9,000 Hold this Time?

Bitcoin (BTC) Price Prediction – July 15

Traders may see a more severe decline in the next couple of days if the bearish trend continues to shape in a pattern formation.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $9,600, $9,800, $10,000

Support Levels: $8,800, $8,600, $8,400

BTCUSD – Daily Chart

At the time of writing, BTC/USD is trading down marginally at its current price of $9,190. This is around where it has been hovering throughout the last week. Actually, buyers have attempted to propel it higher on multiple occasions, each one was met with significant selling pressure around $8,800. The technical indicator MACD is still reflecting an ongoing bearish action in the market as Bitcoin remains in the negative zone. A positive cross should provide a buying opportunity.

Meanwhile, the market is currently following a sideways movement and this unrelenting sideways movement trading is unlikely to last … Read more