BTC / USD analysis 07/22/2021

Bitcoin tested the $ 29,500 level again and then corrected to the $ 32,750 (MA100) area and the upper line of the descending channel. Currently quotes are around $ 31,700.
If Bitcoin manages to gain above $ 32,750, technically it would going beyond the downtrend channel and (MA100), what will open up a potential upside towards the $ 36,500 area.
However, if quotes go below $ 29,500, it will mean a breakdown of the psychological support level and the development of a downtrend with a potential target in the $ 20,000 area.

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