Lorenzo Stroe
Independent Analyst
- BTC/USD is under a slight consolidation period trading at $9,260.
- The number of Bitcoin holders has hit 20 million for the first time ever.
Bitcoin has been trading sideways for practically the past two months, however, that hasn’t stopped investors and new users to continue buying Bitcoin. According to a recent report by Daniel Ferraro, the number of addresses holding Bitcoin reached 20 million on July 1 after a steady uptrend for the past year.
BTC/USD daily chart
-637297451067967047.png)
Even with the significant price surge on July 6, Bitcoin remains quite flat at $9,262 and is still facing the crucial $10,000 resistance level. Right now, Bitcoin only cares about two levels, $9,000 as support, and $10,000 as the resistance. Buyers and sellers have managed to push Bitcoin above $10K before and below $9K but never with enough continuation.
BTC/USD 4-hour chart
-637297451262041105.png)
Clearly, the 4-hour chart is in favor of the bulls and in an uptrend. The current consolidation is definitely healthy and buyers are now looking for another leg up above $9,375.
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