Bitcoin Price Prediction: BTC/USD Ready to Break $48,000 ByAzeez MustaphaPRO INVESTOR Updated: 25 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 25 The Bitcoin price bounces off the support at $47,122 and added more than $1500 to its current value. BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $54,000, $56,000, $58,000 Support Levels: $43,000, $41,000, $39,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is currently trading around $48,785 with a 2.31% gain after touching the daily low of $47,122 support. According to the daily chart, traders can see that the Bitcoin price is fighting to stay above the important level of $48,000 as it crosses above the upper boundary of the channel. However, for BTC/USD to remain above this barrier for the next few days, the bulls may need to make the $47,000 support level to be pretty strong. Bitcoin Price Prediction: Bitcoin (BTC) Bulls Rally Still On The Bitcoin price has been maintaining little upward movement, and if the first digital asset stays above the 9-day moving average, it could touch the nearest resistance level of $50,000. Moreover, the Bitcoin price may need to reclaim this important resistance level to head upwards. If successful, the primary cryptocurrency could therefore aim at $51,000, followed by $52,000, and $53,000 resistance levels. However, the technical indicator Relative Strength Index (14) is currently above 60-level, therefore, one may conclude that BTC/USD is done with the downside. However, recovery may not come easy and traders must be aware that support will have to be sort above $48,000 while other important zones to keep in mind are around $54,000, $56,000, and $58,000 resistance levels. Furthermore, despite the current movement, the RSI (14) is yet to cross into the overbought region which means that there may still be a room that could be explored by the bears. If this happens, the supports at $43,000, $41,000, and $39,000 may play out. BTC/USD Medium – Term Trend: Bullish (4H Chart) From a technical point of view, on the 4-hour chart, the technical indicator Relative Strength Index (14) keeps moving upward and ready to cross above 50-level. Therefore, for this scenario to come to focus, there must be a little bit of bullish divergence on the technical indicator while the signal line faces the north. BTCUSD – 4 Hour Chart However, if the Bitcoin price breaks above the 21-day moving average, the market price may likely reach the resistance at $51,000 and above. On the other hand, if the current market value drops below the 9-day MA, it may likely touch the support level of $47,000 and below. 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