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Bitcoin (BTC) Price Analysis for August 14

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Denys Serhiichuk

Can one count on slight correction of Bitcoin (BTC) earlier than additional rise?

Despite the fact that bulls are nonetheless controlling the state of affairs in the marketplace, some cash have already entered a correction section.

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The speed of Bitcoin has seen virtually no change since yesterday, whereas the worth over the past week has made up 5.85%.

BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) has damaged the native help degree at $24,516. If consumers can’t restore the initiative, one can count on a pointy fall to $24,200-$24,400 by the tip of the day.

BTC/USD chart by TradingView

On the bigger time-frame, Bitcoin (BTC) has made a false breakout of the almost fashioned resistance degree at $24,921, that means that bulls aren’t but prepared to beat the essential $25,000 zone.

Nonetheless, if the speed stays above the help at $24,190, progress might probably happen quickly.

BTC/USD chart by TradingView

From the midterm standpoint, the primary cryptocurrency is about to shut the weekly candle bullish, confirming consumers’ presence. On this case, the extra seemingly state of affairs is a check of the mirror degree at $25,400 by the tip of the present month.

Bitcoin is buying and selling at $24,448 at press time.

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