Can Bitcoin extend gains as buyers dominate session with upward move?

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Bitcoin up 2.53% today at $65,774

Highlights

Strategy raised $263.5 million by issuing 2.73 million Class A shares but did not add to its 843,775 BTC holdings.
The company's cash reserves increased to $3.2 billion as public filings confirmed no Bitcoin purchases, sales, or stock buybacks in the period.
BTC/USD shows strong short- and medium-term bullish momentum, with a high-probability target range of $65,044–$67,816 over the next 2–3 days.

Stable Bitcoin reserves as Strategy's equity raise avoids new buying

Between July 13 and July 19, 2026, Strategy (formerly MicroStrategy) completed an active offering of 2,732,318 Class A shares, raising $263.5 million in net proceeds but electing not to purchase additional Bitcoin, as reported by Bitcoinnewsdigest Substack. This decision maintained the company's total Bitcoin holdings at 843,775 BTC, the figure unchanged since its last acquisition on June 22, with cash reserves rising to $3.2 billion according to Cryptobriefing. The absence of fresh institutional buying from the largest public holder limited immediate shifts in demand or supply, with SEC 8-K filings cited by Cryptonomist confirming no BTC purchases, sales, or share repurchases during the period.

Short-term bullish bias amid mixed momentum and resistance cap

BTC/USD is currently trading above the MA-20 at $65,116 and the MA-50 at $64,768 on the hourly chart, while remaining below the long-term MA-200 at $72,970. The Ichimoku Kijun at $64,449 marks the nearest support for any intraday pullback. MACD signals a Buy, while ADX holds Neutral, indicating moderate trend momentum. RSI at 58.49 and CCI both lean bullish, whereas Stoch RSI issues a Sell. Bull/Bear Power is firmly overbought, reflecting session-dominant buyers, and the Awesome Oscillator reinforces the ongoing upward move. Together, these signals display a mixed momentum environment with short-term divergence among oscillators.

Breakout prospects rise as range-bound trade sets parameters

Over the next 2–3 trading days, BTC/USD is expected to oscillate within a range of $65,044–$67,816. The probability of an upward breakout is high, suggesting that any sustained move above resistance could target the upper boundary of this range. Should price lose momentum, a period of sideways consolidation within the defined corridor is likely, while a failure at the Kijun support opens room for a deeper retracement back toward lower levels.

Viktoras Karapetjanc, expert at Traders Union, notes that Strategy's pause in Bitcoin accumulation keeps supply stable while supporting positive overall sentiment. He sees strong technical positioning above key moving averages, with buyers dominant and oscillators showing mixed signals but mostly favoring bulls. Macro and institutional factors remain constructive, as Strategy builds a substantial cash reserve while holding its significant BTC position. The expert believes that as long as BTC/USD stays above $65,044 and demand remains firm, the path higher is open. "Momentum is on the bulls’ side, and any upward breakout above resistance could quickly accelerate towards the upper range target," he says.

Earlier, analysts noted that cross-chain bridges remain critical yet vulnerable points in the broader crypto ecosystem, highlighting ongoing security concerns for digital assets like Bitcoin. With Bitcoin now exhibiting mixed momentum signals amid limited institutional activity, traders should closely monitor for a decisive breakout above current resistance to validate further upside in the near term.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.