Forecast for Bitcoin (BTC) on August 18th
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Most of the coins are trading in the green zone on the last day of the week, according to CoinMarketCap.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has risen by 0.81% over the past 24 hours.
Image by TradingView
On the hourly chart, the rate of BTC is trying to return to the local resistance level of $60,242. If buyers manage to do that, the breakout may lead to a further upward move to the $61,000 area.
Image by TradingView
On the bigger time frame, the price of the main crypto is far from the key levels. The volume has dropped, which means neither side is ready for a sharp move.
Related
In this case, ongoing sideways trading in the zone of $59,000-$61,000 is the more likely scenario for the next few days.
Image by TradingView
From the midterm point of view, the picture is similar. The rate is trading within the previous weekly candle, confirming the absence of buyers’ and sellers’ power. All in all, any ups or downs are unlikely to happen shortly.
Bitcoin is trading at $59,860 at press time.
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