Bitcoin ($BTC ) Price Prediction for August 18
As of August 18, Bitcoin's price has seen a modest increase of 0.81% over the past 24 hours, with the cryptocurrency currently trading around $59,860. On the hourly chart, Bitcoin is attempting to reach the local resistance level of $60,242. If buyers can push the price past this level, it may trigger a further rise toward the $61,000 mark.
However, on larger time frames, the situation looks less dynamic. The trading volume has decreased, suggesting that neither buyers nor sellers are currently strong enough to drive a significant price movement. As a result, Bitcoin is likely to continue trading sideways in the range of $59,000 to $61,000 over the next few days.
From a midterm perspective, Bitcoin remains within the range of last week's trading activity, indicating a balance between buyers and sellers. Given the current market conditions, significant price fluctuations are not expected in the near term, and the price may remain relatively stable within its current range.
