Bitcoin (BTC / USD) market functioning averages $ 50,000

Bitcoin Price Prediction – August 21
The BTC / USD market transaction averages $ 50,000 as the price keeps the trading situation in the uptrend lines of the channel. The crypto’s percentage trading rate is set at -0.88 to trade around the $ 48,911 line.

BTC / USD market
Key levels:
Resistance levels: $ 52,500, $ 55,000, $ 57,500
Assistance levels: $ 45,000, $ 42,500, $ 40,000BTC / USD – Daily chart
A bullish candlestick appeared during yesterday’s session, signaling on the daily BTC / USD chart that the crypto market trade is averaging $ 50,000. The channel’s bullish trendlines have consistently crossed the points at $ 50,000 and $ 45,000 briefly on the north side. The 14-day SMA indicator trends north below the lower value mentioned earlier, as the 50-day SMA indicator falls below. Stochastic oscillators crossed the northbound lines from the 20 range shortly after the 40 range. This means that upward pressure is currently dominating the crypto pace to some extent.

Will BTC / USD price rise as the market transaction reaches an average level of $ 50,000?

The indication on large indicates that there is any tendency for the BTC / USD price to rise as the market transaction reaches an average level of $ 50,000. An aggressive breakout must occur against the point in order for the new higher trading areas to exceed the current areas of $ 50,000 and $ 45,000. However, if the price does end up overshooting north to a higher trading line for a touch or a reject line, it can cause a loss of momentum.

On the downside, the BTC / USD market bears should wait for a decent price setup characterized by variant rejections or multiple price convergences at a higher trading location that ultimately paired with a visible pullback to consider launch. of a sell position. The forward-looking position of the Stochastic Oscillator readings portends a warning against a short sale in the market at this point in the trading frenzy regardless of the direction of price action.BTC / USD chart in 4 hours
It is now established on the 4-hour BTC / USD chart that the average crypto market level of $ 50,000 is closer to briefly surpassing some of the recent higher points ever seen in the channel’s uptrendlines. The 50-day SMA trendline is next to the channel’s lower bullish trendline because the 14-day SMA trendline is above it in the bullish channel trendlines. Stochastic Oscillators are in the overbought region with joint lines, trying to move in a consolidating fashion. This suggests that the price tends to move in a less active format to determine the next direction. Forming a bearish full body candlestick just below or around the previously mentioned point will bring the market back into a bearish trading situation. But, it may not last long before it deviates from the uptrend afterwards.

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