Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-08-31 21:41:58

Tug Of War Between Bulls And Bears, Will Bitcoin Price Retest $19,000?

The price of Bitcoin (BTC) has continued to struggle against Tether (USDT) as bulls and bears are caught in a tug of war regarding where Bitcoin price should be headed as we approach the monthly close. Bitcoin’s (BTC) price showed so much steam, but it seems like it was just a bull trap for many investors and traders. (Data from Binance) Related Reading: Crypto Market Stays In Deep Fear As Bitcoin Continues To Struggle Bitcoin (BTC) Price Analysis On The Weekly Chart Bitcoin’s (BTC) price has shown so much strength trying to hold above $19,500 in the past few days, with the price bouncing immediately as it drops into the sub $19,800 on several occasions. The price of BTC has continued to show strength, trying to break above $20,500 despite being rejected; the BTC price needs to break this area acting as resistance for bulls to have the chance of pushing the price higher to a region of $22,000. BTC is currently trading below its resistance, stopping the price from trending higher; if BTC cannot break past this resistance of $20,800, we could see the price revisiting the support region at $19,000, acting as a demand zone for most investors. Weekly resistance for the price of BTC – $20,800. Weekly support for the price of BTC – $19,000. Price Analysis Of BTC On The Daily (1D) Chart The price of BTC found its daily low at $19,500; as the price bounced off from that region, BTC’s price has remained str...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.