Bitcoin (BTC) Price Prediction – August 29, 2020
Since August 27, the $11,200 support has been holding. The bears have tested the support thrice as bulls buy the dips to push prices upward. There is a balance as BTC/USD fluctuates between $11,200 and $11,600.
Resistance Levels: $10,000, $11, 000, $12,000
Support Levels: $7,000, $6,000, $5,000
The king coin is now trading in a range between $11,200 and $11,600. The bears have not been able to break the support level because BTC rebounds at the crucial support level. On the other hand, the bulls have not been able to break the $11,600 resistance after two attempts. On the upside, if buyers push BTC price above the 12 –day EMA, the price momentum will be accelerated to break the $11,600 and $11,800 resistance.
The momentum will extend to break the $12,000 overhead resistance. The bullish scenario for … Read more