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29.07.202607:27 Forex Analysis & Reviews: Trading Signals for BTC/USD on July 29-31, 2026: buy above $62,500 (200 EMA - 0/8 Murray)

Relevance up to 01:00 UTC--4

Exchange Rates 29.07.2026 analysis

Bitcoin is trading around $63,718 below the 200 EMA and rebounding after reaching the lower band of the uptrend channel, which also coincided with the 0/8 Murray zone, providing Bitcoin with a strong technical rebound. We believe it could continue to rise in the coming days.

A decisive break above the 200 EMA around $64,257 and consolidation above this zone could be seen as a positive signal for Bitcoin, and we could buy in the coming days with targets at the 1/8 Murray level around $65,625. Ultimately, we expect it to reach the July 19 high around $67,227 and eventually hit the upper band of the uptrend channel around $68,300.

Conversely, a break below the 0/8 Murray level and a break below the uptrend channel formed since early July could be viewed as a bearish scenario. In that case, we could expect Bitcoin to continue falling until it reaches the -1/8 Murray level around $59,375.

Our outlook for Bitcoin remains bullish for now, so a technical bounce around $62,500 or above this level will be seen as a signal to continue buying in the coming days.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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