Bitcoin Price Prediction: BTC/USD Gets Ready For another Attempt On $12,000Author: Azeez MustaphaLast Updated: 04 August 2020 Bitcoin (BTC) Price Prediction – August 4After some brief consolidation, BTC/USD is currently trading above $11,245.BTC/USD Long-term Trend: Bullish (Daily Chart)Key levels:Resistance Levels: $12,000, $12,200, $12,400Support Levels: $10,400, $10,200, $10,000 BTCUSD – Daily ChartBTC/USD bulls are focused on breaking the resistance at $11,500; a move that would pave the way for gains above $12,000. The coin is currently settling above $11,245 while the further recovery is limited by the local resistance of $11,300. However, the recent dip that occurred in the early hours of today was actually helpful for Bitcoin as the technical indicator RSI (14) moves around 67-level as the coin is getting ready for the next leg up.Would Bitcoin Go Up or Down?The Bitcoin price has refused to budge and remains in consolidation in spite of a breakout above the 9-day moving average. The bulls have established a higher low and only need to climb above $11,500 to confirm a daily uptrend. Presently, the trend is in the favor of the bulls and if the situation remains unchanged, BTC/USD may continue to grind north.Moreover, the resistance is anticipated at $11,600 and $11,800. If the coin brings down the seller congestion in these areas, there is a chance that a new path to $12,000, $12,200, and $12,400 resistance levels may be created. For now, all the attention should go towards overcoming the hurdle at $11,500 and defending support at $10,800. Meanwhile, going below $10,800 may likely seek supports at $10,400, $10,200, and $10,000 respectively.BTC/USD Medium-Term Trend: Bullish (4H Chart)On the 4-hour chart, there are several important technical barriers below and above the current price at $11,248 level. This means that BTC/USD may spend enough time consolidating gains at the current levels as the RSI (14) moves sideways.BTCUSD – 4 Hour ChartMeanwhile, in the long-run, the trend stays bullish as long as the price is above $11,000. The potential resistance level is located at $12,000 and above while the nearest supports are under the lower boundary of the channel at $10,600 and below.