The Bitcoin price line fell below the $11900 mark on the 18th of August. The Trading View analyst Atlas Trades is of the opinion that the BTC price will rise towards the $12500 mark again.
1-Day Bitcoin price analysis
Bitcoin price chart by Trading View
The cryptocurrency approached a day’s low of $11815.33. The BTC price was observed at the $11740.48 mark at the time of writing.
Will the Bitcoin price rise towards $12500?
The Trading View analyst Atlas Trades is of the opinion that the BTCUSD pair will rise towards the $12500 mark after the cryptocurrency completed the analyst’s previous order in which the BTC price was expected to rise above the $12000 mark.
Bitcoin price chart by Trading View
The analyst highlighted the resistance turned support level at the $12000 mark, after which the price line rose straight past the support level. On the 17th of August, the BTC price tested the $12500 resistance. The analyst suggested that the price line will recede towards the $12000 level after it tested the $12500 mark, which turned out to be very strong for the weak bullish momentum. While BTC was expected to rise back towards the $12500 mark, the cryptocurrency king fell to the $11775 mark after its fall on the 19th of August.
What to expect from BTC price?
Solldy is another Trading View analyst who believes that the BTCUSD pair will rise towards the $14000 mark in the long-term trade.
Bitcoin price chart by Trading View
The analyst suggested that the price line will first move back towards the support line, which will be followed by a push towards the strong resistance line that lies near the $14000 mark. The cryptocurrency previously rose to this price range in June 2019. On the 19th of August, the price line fell to the $11775 mark. This means that the trade is active.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
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Taha Farooqui
Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.
