Bitcoin (BTC) Price Prediction for August 12
The Bitcoin price today is trading close to $121,964 after clearing the $118,803 barrier that capped upside momentum earlier this month. The move broke out of a multi-week symmetrical triangle on the 4-hour chart and pushed price into a test of the $122,000 area.
This is the same level that acted as a prior swing high on the daily Smart Money Concepts chart, flagged as a “weak high” where liquidity remains uncollected. If buyers can secure a solid daily close above it, there is room for an advance toward $124,193.
On the daily timeframe, BTC remains well within the rising parallel channel that began in April. The median line near $121,500 has been reclaimed, which positions the market for a potential advance toward the channel’s upper boundary near $125,785. The daily Parabolic SAR signal is well below current price at $112,472, reinforcing the strength of the prevailing uptrend.
The daily On-Balance Volume is holding above -84.48K, indicating that there is no significant distribution despite recent gains.
Why Bitcoin price going up today?
The post Bitcoin (BTC) Price Prediction for August 12 appeared first on Coin Edition.
Read More
Bitcoin (BTC) Price Prediction for August 12
The Bitcoin price today is trading close to $121,964 after clearing the $118,803 barrier that capped upside momentum earlier this month. The move broke out of a multi-week symmetrical triangle on the 4-hour chart and pushed price into a test of the $122,000 area.
This is the same level that acted as a prior swing high on the daily Smart Money Concepts chart, flagged as a “weak high” where liquidity remains uncollected. If buyers can secure a solid daily close above it, there is room for an advance toward $124,193.
On the daily timeframe, BTC remains well within the rising parallel channel that began in April. The median line near $121,500 has been reclaimed, which positions the market for a potential advance toward the channel’s upper boundary near $125,785. The daily Parabolic SAR signal is well below current price at $112,472, reinforcing the strength of the prevailing uptrend.
The daily On-Balance Volume is holding above -84.48K, indicating that there is no significant distribution despite recent gains.
Why Bitcoin price going up today?
The post Bitcoin (BTC) Price Prediction for August 12 appeared first on Coin Edition.
Read More