Bitcoin (BTC) Price Prediction for August 15

Bitcoin price is currently trading at about $123,280, which is up 0.44% from yesterday. It broke through the $122,000–$122,500 resistance level. The breakout comes after a lot of buying pressure and strong outflows from exchanges, with spot netflow data showing a $78.50M withdrawal on August 14. This indicates heightened accumulation as BTC tests the upper boundary of its rising channel. What’s Happening With Bitcoin’s Price? BTC price dynamics (Source: TradingView) BTC has been going up strongly on the daily chart since late July, breaking a change of character (CHoCH) level and getting back into a bullish structure. Price is now testing a weak high around $123,287, and the Parabolic SAR dots are far below price at $114,352, which shows that the market is bullish. The main area of demand is between $112,000 and $116,000, which is where a lot of order blocks from recent accumulation phases are located. BTC price dynamics (Source: TradingView) The 4-hour chart shows that BTC price is trading in an upward channel, following both trendline support and resistance. The midline has been a short-term dynamic pivot, and the price is now getting close to the up… The post Bitcoin (BTC) Price Prediction for August 15 appeared first on Coin Edition .

Source: Coin Edition