Bitcoin Analyst: BTC Price Holds Above Key Support

Bitcoin (BTC) is up 1.7% since 00:00. The current price at the time of writing is $21,743 on crypto exchange Coinbase. The euro price of bitcoin is €21,709 on the Dutch exchange bitvavo. Trading volume fell 2.7% over the same time frame. Bitcoin has fallen 7% in value over the past seven days. However, in the past 24 hours, the price rose by about 0.7%. The total market value of Bitcoin at the time of writing is $415 billion. Compared to the total crypto market cap, this brings bitcoin dominance at 42.78%, which is 3% higher than 24 hours ago.

Bitcoin news from yesterday

Bitcoin forms temporary bottom at $20,800

After the outbreak of the rising wedge pattern that we have recently drawn, the price has fallen sharply. Still, there seems to be light at the end of this tunnel for bitcoin. At the moment, the BTC price has found a temporary bottom at $ 20,800.

This level has often functioned as an important level in the past. So this level was a new one higher low on July 26. Should we break through this, the next support will only be at $19,000.

Premium crypto analysis of the day: MANA

The analysts in the Discord environment of Crypto Insiders recently shared an analysis from Decentraland (MANA). In this analysis, it became clear that MANA would encounter significant resistance and that a decline was imminent. Analysts had expected the price to experience downward price action around $1.05. We finally got this price promotion.

At the time of writing, the price is already about 25% lower than the indicated sell zone. So this went exactly as the analysts expected.

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image 1: The above MANA analysis was shared on August 18 in our Discord area for members.

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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences and are for educational purposes only.

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