It has been a bullish week for Bitcoin price even as it traded above the $40,000 psychological level for the first time this month. This has bolstered bulls who made sure that BTC closed five consecutive days in the greed between July 26 and July 30. The flagship cryptocurrency closed the day on Saturday in the red indicating that the bears are determined to make sure the price does not remain above the $42,000 mark. Let’s have a look at the week that was. Bitcoin Price, The Week That Was BTC/USD price rose by 20% in the week ending July 31. Significantly surpassing a 11% gain from then previous week, Bitcoin closed the week at around $41,230. Bitcoin price started the week trading in then green after making a rising by about 22% from the July 20 low at around $29,150. On Monday Bitcoin broke above the $40,000 psychological mark for the first since June 14 before sliding down to an intraweek low at around $36,400 on Tuesday bust still remained bullish. The buyers were determined to stretch the bullish leg which saw the Bitcoin price break above the first major resistance at the $40,000 psychological level. This is the place where it coincides with the 100-dal Simple Moving Average (SMA). A push past this level saw the largest cryptocurrency rally to high of around $42,300 today. Get FREE Crypto Signals Now! Read this guide if you interested in learning more about buying cryptocurrencies? During the week, BTC price broke through the first major resistance level at $37,600 to the week and at $36,400 and flipped the 100-day SMA from resistance to support. Trading five consecutive days in the green including a 6.47% gain on Wednesday and 5.72% rise on Friday was the week’s upside. Bitcoin Price (BTC/USD) Daily Chart BTC Price, The Week Ahead At the time of writing, Bitcoin price is hovering around $40,845 and appears to battle the resistance posed by the apex of a descending triangle at around $41,400. BTC will need to close the week above this level to bring $42,000 levels to the picture. Robust support from the market would be needed for Bitcoin price to slice through the major resistance which is currently defined by the 200-day SMA at around $44,800. If this happens, Bitcoin could break through the third major resistance level at the $45,000 psychological level to retest the May 13 high around the $50,000 mark. Note that closing the week $40,000 mark would bring the first major support level at $39,400 into play. A further fall would see BTC re-test the support levels at 37,600 and $35,000 respectively. The general crypto signals for the week ahead remain bullish as seen by the positive parabolic SAR and the positive of the MACD above the zero line on the daily chart. Looking to buy or trade Bitcoin now? Invest at eToro! Buy Bitcoin Now Capital at risk Nancy Lubale Nancy Lubale Crypto Analyst and Technical Writer Nancy is a successful crypto analyst and content writer with many years of writing experience finance and blockchain fields. Nancy has been producing quality content for websites in the cryptocurrency industry including Krptotrends. She is a Certified Cryptocurrency Expert (CCE) from Blockchain Council. View All Post By Nancy Lubale Forex News Today: Daily Trading News share Read Next GBP/USD Outlook: Bulls to Acquire 1.3910, Poor Greenback Helps Saqib Iqbal 1 year It has been a bullish week for Bitcoin price even as it traded above the $40,000 psychological level for the first time this month. This has bolstered bulls who made sure that BTC closed five consecutive days in the greed between July 26 and July 30. The flagship cryptocurrency closed the day on Saturday in the red indicating that the bears are determined to make sure the price does not remain above the $42,000 mark. Let's have a look at the week that was. Bitcoin Price, The Week That Was BTC/USD price rose by 20% in the week ending July… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.