Bitcoin Price Prediction – August 26
Today, the Bitcoin price prediction is currently falling with close to $46,000 drop at the time of writing.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $54,000, $56,000, $58,000
Support Levels: $42,000, $40,000, $38,000
At the time of writing, BTC/USD is hovering at $47,353 as there have been instances when BTC has already passed over this $47,000 level but sustaining the bearish price action is a downhill task. Presently, the path of least resistance is still downwards as the technical indicator reveals.
Bitcoin Price Prediction: Would Bitcoin Price Drop More?
Looking at the technical indicator, the Relative Strength Index (14) is crossing below 60-level but with the look of things, the Bitcoin price is not yet done with the downside. Despite the drop suffered a couple of days ago, the RSI (14) is likely to reach the 50-level and this could mean that there may still be a room that could be explored by the bears. Therefore, the Bitcoin price may follow the bearish movement if the 9-day MA crosses below the 21-day MA.
However, recovery may not come easy when looking from the upside but a sustainable move above the 9-day moving average may revisit the resistance level of $49,000, which may negate the bearish scenario and allow for an extended recovery above the upper boundary of the channel for the coin to move towards the potential resistance levels of $54,000, $56,000, and $58,000. Meanwhile, an increase in selling pressure may force the king coin towards the support levels of $42,000, $40,000, and $38,000.
BTC/USD Medium-Term Trend: Ranging (4H Chart)
On the 4-hour chart, the Bitcoin price is hovering below the 9-day and 21-day moving averages. BTC/USD has failed to survive the $47,500 support as the market continues the downside momentum. However, the first digital asset is likely to return to the bear market if the price breaks below the $lower boundary of the channel. Meanwhile, the critical support is located at $45,000 and below while the technical indicator Relative Strength Index (14) moves below 40-level.
On the other hand, if the bullish movement steps back, the resistance level of $48,500 may come to play. More so, BTC/USD is likely to rise to $49,000 and above if the price cross above the 9-day and 21-day moving averages.
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Bitcoin Worth Prediction – August 26
In the present day, the Bitcoin value prediction is presently falling with near $46,000 drop on the time of writing.
BTC/USD Lengthy-term Development: Ranging (Day by day Chart)
Resistance Ranges: $54,000, $56,000, $58,000
Help Ranges: $42,000, $40,000, $38,000
On the time of writing, BTC/USD is hovering at $47,353 as there have been situations when BTC has already handed over this $47,000 degree however sustaining the bearish value motion is a downhill job. Presently, the trail of least resistance continues to be downwards because the technical indicator reveals.
Bitcoin Worth Prediction: Would Bitcoin Worth Drop Extra?
Wanting on the technical indicator, the Relative Energy Index (14) is crossing beneath 60-level however with the look of issues, the Bitcoin value is just not but completed with the draw back. Regardless of the drop suffered a few days in the past, the RSI (14) is more likely to attain the 50-level and this might imply that there should still be a room that might be explored by the bears. Subsequently, the Bitcoin value could observe the bearish motion if the 9-day MA crosses beneath the 21-day MA.
Nonetheless, restoration could not come straightforward when trying from the upside however a sustainable transfer above the 9-day transferring common could revisit the resistance degree of $49,000, which can negate the bearish situation and permit for an prolonged restoration above the higher boundary of the channel for the coin to maneuver in direction of the potential resistance ranges of $54,000, $56,000, and $58,000. In the meantime, a rise in promoting strain could power the king coin in direction of the help ranges of $42,000, $40,000, and $38,000.
BTC/USD Medium-Time period Development: Ranging (4H Chart)
On the 4-hour chart, the Bitcoin value is hovering beneath the 9-day and 21-day transferring averages. BTC/USD has didn’t survive the $47,500 help because the market continues the draw back momentum. Nonetheless, the primary digital asset is more likely to return to the bear market if the worth breaks beneath the $decrease boundary of the channel. In the meantime, the crucial help is positioned at $45,000 and beneath whereas the technical indicator Relative Energy Index (14) strikes beneath 40-level.
Alternatively, if the bullish motion steps again, the resistance degree of $48,500 could come to play. Extra so, BTC/USD is more likely to rise to $49,000 and above if the worth cross above the 9-day and 21-day transferring averages.
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