Bitcoin Value Prediction – August 22
The Bitcoin worth prediction reveals that BTC fails in overcoming $50,000 as the newest rejection drives the coin to a each day low of $48,102.
BTC/USD Lengthy-term Development: Bullish (Each day Chart)
Resistance Ranges: $54,000, $56,000, $58,000
Assist Ranges: $44,000, $42,000, $40,000
BTC/USD is correcting low after touching the each day excessive of $49,499 and it’s more likely to begin one other enhance so long as there isn’t a shut beneath $45,500. This previous week, the Bitcoin worth noticed a month-to-month excessive of $49,821 resistance degree. In a while, the king coin broke beneath the $49,000 degree however nonetheless settled above the 9-day and 21-day shifting averages.
Bitcoin Value Prediction: BTC Value Could Create One other Excessive
The Bitcoin worth is seen retracing and buying and selling above the 9-day and 21-day shifting averages and the market worth stays underneath the each day excessive of $49,499 degree as an indication of bullish momentum. Nonetheless, within the new week, any additional enhance within the bullish momentum might must develop the coin above the resistance degree of $50,000; one other resistance might come at $52,000 earlier than reaching the potential resistance of $54,000, $56,000, and $58,000 ranges.
Furthermore, ought to the $48,000 degree failed to carry the present bearish motion, the Bitcoin worth might face the help degree at $45,000, additional enhance within the bears’ stress might push down the worth in the direction of the 21-day shifting common and presumably hit the crucial helps at $44,000, $42,000, and $40,000. In the meantime, the technical indicator Relative Power Index (14) sign line stays on the upside, crossing beneath 60-level might ignite promote alerts into the market.
BTC/USD Medium – Time period Development: Ranging (4H Chart)
In keeping with the 4-hour chart, the fast-moving 9-day MA stays above the slow-moving 21-day MA; the market worth is buying and selling inside the two shifting averages as an indication of bearish momentum. Nonetheless, in case the present market worth of the $48,360 degree failed to carry, the bears might exert stress in the marketplace to interrupt down the essential help degree and the worth might decline to $47,000 and beneath.
Nonetheless, ought to the bulls push the market worth above the higher boundary of the channel, the resistance degree of $49,500 could also be revisited and the worth might enhance to $50,000 and above. In the meantime, the technical indicator Relative Power Index (14) is shifting beneath 60-level to point a downward motion.
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