Cryptocurrency
Bitcoin (BTC) Price Analysis for August 23 – Crypto News
Bulls are trying to seize the initiative by the end of the day, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has increased by 0.21% over the past 24 hours.
Image by TradingView
On the hourly chart, the price of Bitcoin (BTC) is looking bullish as it is trying to fix above the vital zone of $26,000.
If that happens, there is a good chance of seeing a resistance breakout, followed by further growth to the $26,500 area.
Image by TradingView
On the daily time frame, the rate of BTC is not ready yet for a sharp move as it has not accumulated enough energy yet. However, if the upward move continues to the resistance at $26,264, buyers might seize the initiative, which could lead to a possible test of the $27,000 mark soon.
Image by TradingView
On the weekly chart, the price of BTC has made a false breakout of the support of $25,601. If the bar closes far from that mark, one can expect a correction to the $26,800-$27,000 zone by the end of the month.
Bitcoin is trading at $26,117 at press time.
