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The Bitcoin price line rose past the $11975 level on the 15th of August. Tehran Crypto is a Trading View analyst who believes that the BTC price will fall towards the $11300 mark next.
1-Day Bitcoin price analysis
Bitcoin price chart by Trading View
The BTC price stood near the $11700 mark at the beginning of the day’s trade, after which it rose past the $11975 mark and approached a day’s high of $11981.46 US Dollars. At the time of writing, the BTC price was observed at the $11920.55 mark.
What to expect from Bitcoin price?
The Trading View analyst Tehran Crypto believes that the BTC price will fall below the $11600 mark.
Bitcoin price chart by Trading View
The analyst highlighted a rising wedge pattern for the BTCUSD pair and they suggested that the BTC price will fall below the rising wedge pattern after it observes a breakout towards the downside. The cryptocurrency king has been trading inside the rising wedge pattern from the 13th of August. The idea suggests that if the breakout occurs, the price will either fall towards the $11356.44 mark or towards the daily support that lies at the $11587 level.
On the 15th of August, the BTC price broke below the rising wedge pattern and this trade became active. The price line fell towards the $11732 mark near noon; however, it has not completed the trade as of yet.
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.
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