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Bitcoin (BTC) Prediction for August 10

source-logo  u.today 10 August 2024 18:42, UTC

Saturday has started bullish for most coins, however, there are some exceptions, according to CoinStats.

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BTC/USD

The rate of Bitcoin (BTC) has almost not changed since yesterday.

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On the hourly chart, the price of BTC is bearish as it is closer to the local support level of $60,247. If the daily bar closes around it, the fall may continue to the $60,000 area by tomorrow.

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On the bigger time frame, one should focus on the level of $62,154. If bulls can seize the initiative and bring the rate back to this mark, the accumulated energy might be enough for a blast to the $64,000 zone next week.

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From the midterm point of view, the price of BTC is in the middle of the wide channel between the support of $53,120 and the resistance of $73,949.

As neither side is dominating, ongoing sideways trading in the range of $58,000-$64,000 is the more likely scenario until the end of the month.

Bitcoin is trading at $60,531 at press time.

u.today