BTC Price Loses $23K Support and Nosedives

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Bitcoin Sideways Move Ends as BTC Price Loses $23K Support and Nosedives – July 31, 2022

Bitcoin bulls have failed to overcome the $24,000 resistance zone as BTC price loses $23K support and nosedives. The crypto is now fluctuating between $23,000 and $24735 price levels. BTC/USD is now trading at $23,205 at the time of writing.

Bitcoin Price Statistics Data:
•Bitcoin price now – $23,004.12
•Bitcoin market cap – $439,821,917,779
•Bitcoin circulating supply – 19,109,781.00 BTC
•Bitcoin total supply – $483,326,327,673
•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000

Bitcoin has retraced above $23,000 for the past 24 hours. There is a likelihood of a price rebound if the current support holds. The largest cryptocurrency will have another opportunity to retest the overhead resistance if price rebounds. When buyers overcome the overhead resistance, the bullish momentum could pick up further. BTC price will rally to the highs of $28,000 and $30,000 price levels. Conversely, if bears sink the price below the $23,000 support, the market will drop below the moving average lines. This will accelerate the downward move to the $20,000 psychological price level.

Croatia’s Growing Crypto Adoption and Payment despite the Bear Market

According to a report, Croatia has been enjoying the growing cryptocurrency adoption despite the ongoing crypto winter. The crypto payments in cryptocurrencies like Bitcoin (BTC) have been on the rise at Croatia’s largest supermarket chain Konzum. A spokesperson indicated that rising crypto payments on Konzum come in line with the growing adoption of crypto in Croatia, stating: “Regardless of the bear market, we are satisfied with the interest which keeps on growing.

The overall interest in cryptocurrency payments continues to increase steadily as well as the interest for the implementation of cryptocurrency payments in Croatia.” The supermarket chain has extended the crypto payment option to several self-checkout cash registers in physical pilot stores. Konzum is also working with the local crypto payment firm Electrocoin to bring crypto payments to all 700 physical stores across Croatia.

 Bitcoin Price Prediction for Today July 31: BTC Price loses $23K support and nosedives
BTC/USD – 4 Hour Chart

Meanwhile, Bitcoin falls marginally as BTC price loses $23K support and nosedives. There is a tendency for the price to revisit  the $20,000 psychological price level. BTC price is at level 54 of the Relative Strength Index for period 14. It indicates that the market is in the bullish trend zone.

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