{"id":271705,"date":"2020-08-19T14:02:33","date_gmt":"2020-08-19T18:02:33","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=271705"},"modified":"2020-08-19T14:10:17","modified_gmt":"2020-08-19T18:10:17","slug":"btc-usd-long-term-trend-bullish-daily-chart","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/btc-usd-long-term-trend-bullish-daily-chart","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Bulls Show Signs of Weakness; Price May Touch $11,500 Support"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 August 19<\/strong><\/p>\n

Bitcoin (BTC) free-falls below $12,000, the coin is unlikely to hold onto the short support at $11,700.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $12,700, $12,900, $13,100<\/p>\n

Support Levels: $11,100, $10,900, $10,700<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

BTC\/USD<\/a> is seen pulling the entire market down with it following losses under $12,000. However, the failure to hold above the $12,000 must-have encouraged more sellers to join the market and push for revenge. At the time of writing, Bitcoin is trading at $11,863. It has lost 0.73% of its value on the day considering the number-one crypto commenced the session at $11,968. The prevailing trend is strongly bearish, however, with shrinking volatility and it is likely to hold onto the short term support at $11,700.<\/p>\n

What to Expect from Bitcoin (BTC)<\/h4>\n

Looking at the daily chart, the dominant trend is bearish and this highlighted by the technical indicator RSI (14) which may cross below 60-level. Similarly, the 9-day MA is seen moving lower which may cross below 21-day MA. However, sellers have the say at the moment and the most probable direction for Bitcoin (BTC) is downward unless support at $11,700 stays intact and buyers keep their eyes back on $12,000.<\/p>\n

Moreover, if the bulls push higher, the first level of resistance is located at $12,200. A sustainable move above $12,200 is needed for the upside to gain traction while the next important resistance may come at $12,500. Further resistance levels could be located around $12,700, $12,900, and $13,100 while the critical supports lie at $11,100, $10,900, and $10,700.<\/p>\n

BTC\/USD Medium-Term Trend: Bullish (4H Chart)<\/h4>\n

Looking at the 4-hour chart, the bears are seen coming back into the market as the 9-day MA crosses below the 21-day MA. The break below this crucial barrier caused it to plunge as low as $11,614, with bulls stepping up and guarding against a decline beneath this level. Meanwhile, unless it recaptures $12,000 in the near-term, the bears could have the upper hand over the bulls, and BTC\/USD may soon reel significantly lower.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

However, any further bearish movements could see the support levels of $11,300 and below. Meanwhile, as the technical indicator RSI (14) moves above 40-level, bullish signals may likely surface to push the price above the moving averages. The resistance levels to watch for are $12,200 and above.<\/p>\n

<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin (BTC) Price Prediction \u2013 August 19 Bitcoin (BTC) free-falls below $12,000, the coin is unlikely to hold onto the short support at $11,700. BTC\/USD […]<\/a><\/div>","protected":false},"author":1742,"featured_media":271706,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-271705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Bulls Show Signs of Weakness; Price May Touch $11,500 Support<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) free-falls below $12,000, the coin is unlikely to hold onto the short support at $11,700\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271705\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: BTC\/USD Bulls Show Signs of Weakness; 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