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bitcoin
Bitcoin (BTC) $ 93,634.09 2.22%
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Ethereum (ETH) $ 2,632.36 6.06%
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Tether (USDT) $ 1.00 0.03%
xrp
XRP (XRP) $ 2.41 5.67%
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BNB (BNB) $ 629.03 3.78%
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Solana (SOL) $ 150.25 10.24%
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USDC (USDC) $ 1.00 0.01%
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Dogecoin (DOGE) $ 0.221901 8.12%
cardano
Cardano (ADA) $ 0.712867 6.97%
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Lido Staked Ether (STETH) $ 2,632.35 5.89%

Bitcoin Price Analysis August 8

So over the past 48 hours the $6800 important support level have been tested again, and so far seems to hold. Together with breaking up the ascending trending line, Bitcoin had gained some momentum to re-test the long-term descending trend line (marked in bold light blue on the chart below). Breaking it up will likely send Bitcoin to re-test resistance levels at $7300 – $7400 (Moving Average 200 days).

However, Bitcoin is testing resistance as of writing these words, along with the high RSI levels (market is overbought) – we can expect a correction or consolidation till trying to continue the way up. The volume of buyers is still a lot lower than the sellers’ volume levels. The market will stay bearish unless buyers will step in (and create green volume candles).

From the bear side, $7000 is now resistance-turned support, and below stands the important $6800 support area. Next is $6600 support (weaker support level).

Bitcoin Prices: BTC/USD BitFinex 4 Hours chart

BTC August 8

The post Bitcoin Price Analysis August 8 appeared first on CryptoPotato.

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