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Bitcoin (BTC) Price Analysis for August 5

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Denys Serhiichuk

Has Bitcoin (BTC) collected sufficient vitality to rise to $24,000 stage?

Bulls hold setting cash to new native peaks, in keeping with CoinMarketCap rankings.

Top coins by CoinMarketCap


The speed of Bitcoin (BTC) has risen by 1.32% over the past 24 hours.

BTC/USD chart by TradingView

On the native chart, Bitcoin (BTC) is caught between the assist stage at $22,928 and the resistance at $23,427.

The amount has declined, which implies that one shouldn’t count on any sharp strikes till the top of the day.

BTC/USD chart by TradingView

On the day by day timeframe, Bitcoin (BTC) is once more buying and selling above the very important $23,000 mark. If patrons can maintain this stage, there are excessive possibilities to see the take a look at of the $24,000 zone subsequent week.

BTC/USD chart by TradingView

From the mid-term standpoint, Bitcoin (BTC) has bounced off the $22,400 mark, confirming bulls’ energy. Nevertheless, the principle coin may want extra time to build up vitality for an additional upward transfer.

Bitcoin is buying and selling at $23,108 at press time.

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