Bitcoin Price Prediction: Btc/USD Consolidates Between $11,400 and $11,800, Ready for the Next Move on the Upside ByAzeez MustaphaPRO INVESTOR Updated: 25 August 2020 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin (BTC) Price Prediction – August 25, 2020Yesterday, BTC retested the $11,800 resistance and was repelled. The price fell and it is approaching the low of $11,500 at the time of writing. For the past four days Bitcoin fluctuates between $11,400 and $11,800. Resistance Levels: $10,000, $11, 000, $12,000Support Levels: $7,000, $6,000, $5,000 BTC/USD – Daily Chart BTC/USD has been trading marginally for the past few days. Yesterday, a retest at the $11,800 resistance was not sufficient to break the resistance level. In previous price action, BTC rebounded above the $11,700 to break the current resistance. Bitcoin is falling and approaching the crucial support level at $11,400. The crucial support levels of $11,400 and $11,600 have been holding since the beginning of August. Nevertheless, if BTC retraces to $11,400 and rebounds twice, the momentum will propel price to rally above $11,800. A rally above $11,800 will mean a greater task to break the overhead resistance. The bottom line is that BTC’s next target will be $13,000 high, if the bulls can push BTC above $12,000 and $12,400 resistances. However, sellers may not condone the breaking of the overhead resistance. Given that they will put up resistance at $12,000 high.Bitcoin Volatility May Explode Before August EndingAccording to analysts, some factors will contribute to a possible breakout at the end of August. One such factor is the presence of prolonged consolidation. For instance, after the downtrend on August 19, BTC has been consolidating between $11,400 and $11,800. A breakout will occur after price consolidates for an extended period without a clear direction. The second factor that can cause a spike in volatility is the upcoming expiration of BTC futures and options contracts. According to reports, the simultaneous expiration of August options and futures contracts could cause a large Bitcoin price movement. BTC/USD – Daily Chart Nonetheless, after the downtrend, buyers have made the first retest at the $11,800 resistance. Meanwhile, in the August 17 uptrend, BTC was repelled at the $12,400 resistance. However, a bearish candle body tested the 38.2% Fibonacci retracement level. This indicates that BTC will rise and reach the 2.618 Fibonacci extension level. In other words, the market will reach $14,500 high. Join Our Telegram channel to stay up to date on breaking news coverage