Bitcoin Price Prediction: BTC/USD Likely to Trade Above $50,000 ByAzeez MustaphaPRO INVESTOR Updated: 22 August 2021 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 Price Prediction – August 22 The Bitcoin price prediction reveals that BTC fails in overcoming $50,000 as the latest rejection drives the coin to a daily low of $48,102. BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $54,000, $56,000, $58,000 Support Levels: $44,000, $42,000, $40,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is correcting low after touching the daily high of $49,499 and it is likely to start another increase as long as there is no close below $45,500. This past week, the Bitcoin price saw a monthly high of $49,821 resistance level. Later on, the king coin broke below the $49,000 level but still settled above the 9-day and 21-day moving averages. Bitcoin Price Prediction: BTC Price May Create Another High The Bitcoin price is seen retracing and trading above the 9-day and 21-day moving averages and the market price stays under the daily high of $49,499 level as a sign of bullish momentum. However, in the new week, any further increase in the bullish momentum may have to grow the coin above the resistance level of $50,000; another resistance may come at $52,000 before reaching the potential resistance of $54,000, $56,000, and $58,000 levels. Moreover, should the $48,000 level failed to hold the current bearish movement, the Bitcoin price may face the support level at $45,000, further increase in the bears’ pressure may push down the price towards the 21-day moving average and possibly hit the critical supports at $44,000, $42,000, and $40,000. Meanwhile, the technical indicator Relative Strength Index (14) signal line remains at the upside, crossing below 60-level may ignite sell signals into the market. BTC/USD Medium – Term Trend: Ranging (4H Chart) According to the 4-hour chart, the fast-moving 9-day MA remains above the slow-moving 21-day MA; the market price is trading within the two moving averages as a sign of bearish momentum. However, in case the current market value of the $48,360 level failed to hold, the bears may exert pressure on the market to break down the important support level and the price may decline to $47,000 and below. BTCUSD – 4 Hour Chart However, should the bulls push the market price above the upper boundary of the channel, the resistance level of $49,500 may be revisited and the price may increase to $50,000 and above. Meanwhile, the technical indicator Relative Strength Index (14) is moving below 60-level to indicate a downward movement. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 75% of retail investor accounts lose money when trading CFDs with this provider Join Our Telegram channel to stay up to date on breaking news coverage