The potential price of Bitcoin (BTC) on August 18, 2024 is expected to face significant challenges. Based on the latest technical analysis, the short-term sentiment towards BTC is currently bearish. The price of Bitcoin has shown high volatility over the past few days, and many technical indicators are showing a "sell" signal.
On August 17, 2024, BTC was around $58,887, which was slightly lower than the previous day. Although the price has reached higher levels before, several indicators such as the Simple Moving Averages (SMA) and Exponential Moving Averages (EMA) show that selling pressure is still strong. Therefore, BTC is likely to continue to face resistance at around $60,000, which could hold back its upward movement in the near future.
If you are planning to invest or trade BTC, it is important to consider the current market conditions and prepare for possible further corrections.
