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17.07.202618:58 Forex Analysis & Reviews: Trading Signals for BTC/USD on July 17-21, 2026: buy above $62,500 (21 SMA - 1/8 Murray)

Rilevanza fino a 12:00 2026-07-31 UTC--4

Exchange Rates 17.07.2026 analysis

Bitcoin is trading around $62,900, pulling back after reaching the 1/8 Murray key level, which acts as a strong resistance barrier. Bitcoin is now trading below the 200 and below the 21 moving averages, which gives us a negative outlook for the coming days.

If, in the coming hours, Bitcoin breaks below the 0/8 Murray level and below the uptrend channel formed since June 27, we could expect the decline to continue, potentially reaching the -1/8 Murray level around $59,350.

Conversely, if Bitcoin consolidates above $62,500 in the coming hours, this could be seen as an opportunity to resume its uptrend, as it is currently reaching a key support level that coincides with the lower band of the uptrend channel. We could expect a recovery in the coming days, with Bitcoin potentially returning toward the 1/8 Murray level.

Given that the Eagle indicator is showing a bearish signal, we must be cautious, as a break below $62,500 could send Bitcoin down toward the psychological level of $60,000 or even back to the June 30 lows around $58,000.

As long as the price remains within the uptrend channel, a technical bounce above $62,500 will be seen as an opportunity to take long positions.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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