The Bitcoin price line rose above the $11930 mark on the 16th of August. Romeo Deris is a Trading View analyst who is of the opinion that the BTC price will fall towards the $11450 mark.
1-Day Bitcoin price analysis
Bitcoin price chart by Trading View
The BTC price line fell below the $11700 level in the afternoon where it met a day’s low of $11698.70. At the time of writing, the BTC price was observed at the $11823.45 US Dollars.
Will Bitcoin price fall to $11450 next?
The Trading View analyst Romeo Deris believes that the BTCUSD pair will fall towards the $11450 level, which is where an important horizontal resistance lies.
Bitcoin price chart by Trading View
The analyst highlighted an ascending parallel trading channel for the BTCUSD pair. As the cryptocurrency has broken out of the ascending channel, the analyst suggests that the cryptocurrency will now fall below the horizontal support that lies below the $11750 mark, after which it will move towards the $11450 support, which is where the second horizontal lies. The cryptocurrency tested the horizontal resistance that lies above the $11900 level on the 16th of August.
What to expect from BTC price?
The Trading View analyst Atlas Trades believes that the BTCUSD pair will rise towards the $12000 resistance.
Bitcoin price chart by Trading View
The analyst drew the horizontal support line at the $11700 mark. The cryptocurrency rose above the horizontal support on the 14th of August, after which it has been accumulating between the $12000 and $11700 levels. The BTC price moved towards the $11700 support on the 16th of August and it continued to hold the support.
The idea suggests the cryptocurrency will rise to $12000. On the 16th of August, the BTC price rose above the $11930 mark.
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.
