Bitcoin exchange rate forecast for August only very lazy could not help but notice the obvious: Bitcoin exchange rate has stopped falling.
In June, there was a minimum of this year, in July, the inexorable growth of Bitcoin began. What awaits us in August? What are the forecasts for the Bitcoin exchange rate? Will Bitcoin grow, or Vice versa, will it fall?
Let’s see. And we will start with the chart of Bitcoin exchange rate. Daily timeframe.
By the way, admit at what price you bought Bitcoins. 19900 or 5800?
If the option is number one, then you are a long term investor. Very long-term. As you know, a long-term investor is a short-term speculator who once decided to withdraw some money from the market, but slightly made a mistake with the direction.
But if your option is option two, then by the time the bitcoin rate reaches 20,000 and short-term investors in a year of expectation will come to zero… By that time you will be spreading hamburgers on cheeseburgers somewhere in your own Villa on the coast, in Spain or (here substitute your option). Just do not forget that in twenty years new black citizens of this warm country will ask you to leave. Used it and that’s enough. So invest, but don’t invest.
In the screenshot we see That bitcoin quotes have overcome resistance, broke the trend line. That tells us, so gently hints, about the break of the established trend. It says about the change of trend, from downward to upward.
We also see that the cryptocurrency quotes are above the Ichimoku cloud. It also confirms that we have an upward trend. The signal lines of the Ichimoku indicator are also turned up. The red fast signal line crossed the blue slow line from the bottom up in early July, at the level of 6280.
The level of support for the Bitcoin exchange rate is the broken border of the trend line. Only now it has turned from resistance into support. The Bitcoin support level is at 7600.
The resistance level is 8500. It is now, recently reached the top. Moreover, that boundary extension, Fibonacci reversal level. And if this level of resistance will not be updated, then in August the Bitcoin rate will fall. Fall long and lingering until it reaches 6666.
If the resistance level is broken, the cryptocurrency will rush to the level of 9400. At the time of writing this forecast for the Bitcoin exchange rate for August, the quotes of digital gold are at the level of 8250.
Thus, the BTC/USD bitcoin exchange rate forecast for August suggests an increase in the Bitcoin rate above 9400. However, to confirm the trend change, a preliminary drop in the cryptocurrency rate to the level of 6666 is necessary.