Bitcoin price approaches $11400, rise to $14000 ahead?

Bitcoin price approaches $11400, rise to $14000 ahead?

On the 31st of July, the Bitcoin price gradually moved past the $11400 level. Crypto analysts on Trading View believe that BTC price will move towards the $14000 mark next.

1-Day Bitcoin price analysis

Bitcoin price chart 1 - 31 July

Bitcoin price chart by Trading View

The cryptocurrency fell to a day’s low of $10973.80 with in the first three hours of the day, while it rose past the $11350 level as the day moved towards its end. At the time of writing, Bitcoin was observed trading at $11400.88 US Dollars.

What’s next for Bitcoin BTC?

The Trading View analyst Alan Masters is of the opinion that the BTCUSD pair will rise past the $14000 mark. Bitcoin price chart 2 - 31 July

Bitcoin price chart by Trading View

The analyst explained that Bitcoin looks strong, with it trading above the Exponential Moving Averages on the daily timeframe. The BTCUSD pair har to break through the $10500 mark, which acted as a barrier, but the bulls moved past the resistance rather easily.

The analyst had suggested that the cryptocurrency will have a confirmed bullish play if it closes above the $11000 mark on the 31st of July. The Bitcoin market, along with the major altcoins, appears to be growing currently, which means that the cryptocurrency market looks good.  Alan marked the target price for this trade at the $14605.79 mark.

Will Bitcoin’s price rise to $14000?

Another Trading View analyst Rocket Bomb also suggested that the cryptocurrency king Bitcoin BTC will move towards the $14000 level.

Bitcoin price chart 3 - 31 July

Bitcoin price chart by Trading View

The analyst highlighted all the important support levels and resistances for the cryptocurrency. The $10746.98 support, which was previously a resistance, was recently overcome by the cryptocurrency. This resistance line was rather strong, and now the cryptocurrency appears to move towards the $14000 level.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement.

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