Bitcoin (BTC) Price Analysis
- 王林Original
- 2024-08-21 18:17:15731browse
BTC/USD is flat at press time. Despite the volatility of yesterday, the coin remains within a familiar range. Unless there is a close in either direction
Bitcoin closed as a Doji candlestick yesterday in a session that saw mild volatility. Prices initially swung lower but a late rebound saw bulls close strongly. However, the long upper wick points to weakness and the likelihood of prices trickling lower in future sessions. At the time of writing, buyers are upbeat and expecting bulls to pull through the chop and close higher. Conversely, if there are no supportive fundamental factors and prices drop below immediate support levels, the trend will likely shift, backing aggressive sellers.
The state of affairs in the daily chart means Bitcoin is still in a sideways consolidation. The drop yesterday means the coin is stable in the daily and weekly time frames. Meanwhile, the average trading volume is low, at just $26 billion.
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