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Bitcoin (BTC) Price Analysis for August 31

Wed, 08/31/2022 - 15:37
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Denys Serhiichuk
Can end of August become bullish for Bitcoin (BTC)?
Bitcoin (BTC) Price Analysis for August 31
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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After a few days of decline, some coins are trying to return to the bullish trend.

Top coins by CoinMarketCap


The price of Bitcoin (BTC) has increased by 0.83% over the last 24 hours.

BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) is slightly approaching the local support level at $20,126. If the pressure continues and the candle closes below $20,200, the breakout might lead to the test of the important $20,000 mark soon.

BTC/USD chart by TradingView

On the daily time frame, nothing crucial is happening as Bitcoin (BTC) is trading in the middle of the channel.

DOGE and SHIB Price Analysis for August 28

However, if buyers lose the $20,000 mark, there is a chance to see a further decline to $19,500 by the end of the week.

BTC/USD chart by TradingView

From the mid-term point of view, Bitcoin (BTC) has almost touched the mirror level at $20,700. At the moment, one needs to pay close attention to the weekly closure. If the rate returns to the support level at $19,500, traders might see BTC around $19,000 again.

Bitcoin is trading at $19,930 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at