{"id":271778,"date":"2020-08-21T10:47:52","date_gmt":"2020-08-21T14:47:52","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=271778"},"modified":"2020-08-21T10:52:30","modified_gmt":"2020-08-21T14:52:30","slug":"bitcoin-btc-price-prediction-august-21-2020","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-btc-price-prediction-august-21-2020","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Fluctuates Above $11,600, Shows Signs of Bearish Signals"},"content":{"rendered":"\r\n

Bitcoin (BTC) Price Prediction \u2013 August 21, 2020<\/strong>
BTC\/USD<\/a> dropped to $11,654 low and corrected above $11,800. Today, the price is falling again to the previous low at $11,600. BTC will face serious selling pressure if it falls beyond the crucial support levels.<\/p>\r\n

Resistance Levels<\/strong>: $10,000, $11, 000, $12,000
Support Levels:<\/strong> $7,000, $6,000, $5,000<\/p>\r\n

\"\"<\/a>
BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\n

The crucial support levels of $11,400 and $11,600 were being tested soon after the last breakdown. The support at $11,600 is holding as price is being repelled. After a recent breakdown, price is fluctuating between $11,600 and $12,000. From the August 1 uptrend, BTC was first resisted as the retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that Bitcoin will rise and reached the 1.272 Fibonacci extension level. BTC has fulfilled the recent high of $12,400 (level 1.272). The unfulfilled aspect is that the king coin will return to a 78.6% retracement level or the low of $11,300. Therefore, Bitcoin is likely to reach a low of $11300.

Bitcoin Outperforms 5 National Currencies in 2020<\/strong>
Bitcoin is a digital currency that is in a strong performance against all global currencies. Analysts believe that the trend could continue. This is in favor of the argument that BTC is developing as a store of value. Presently, the Bitcoin price has surged by 50% to 128% against all national currencies. It is performing better against devaluing currencies with rates of inflation. For instance, Argentina (peso) recorded 53% in 2019, the highest in 30 years. Concerning Brazil (real) and Argentina (peso), Bitcoin posted 128.4% and 103.50% gains. The king coin recorded a 56% to 69% gains against reserve currencies like the U.S dollar and the euro.<\/p>\r\n

\"\"<\/a>
BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\n

Meanwhile, Bitcoin has continued to fluctuate above $11,600. According to the Fibonacci tool, the market will fall to $11,300. The price fall will be below the crucial support levels of $11,400 to $11,600 where Bitcoin resumes the upside momentum.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 August 21, 2020BTC\/USD dropped to $11,654 low and corrected above $11,800. Today, the price is falling again to the previous […]<\/a><\/div>","protected":false},"author":1742,"featured_media":271867,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7812,7632],"class_list":["post-271778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btc-usd","tag-price-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Fluctuates Above $11,600, Shows Signs of Bearish Signals<\/title>\n<meta name=\"description\" content=\"The crucial support levels of $11,400 and $11,600 were being tested soon after the last breakdown\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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