Famous Trader Bitcoin Made His Prediction for August 2024: Here are the Critical Levels!

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Cryptocurrency trader Titan of Crypto, Bitcoin (BTC)’s prediction for the next cycle top in an X post yesterday shared. By analyzing BTC’s historical price data and plotting trend lines from a previous cycle’s low to the next high, the trader predicted a potential price target for the upcoming cycle top.

According to the trader’s own analysis, BTC could reach around $137,000. Additionally, this peak is expected to occur in August 2024. Meanwhile, according to CoinMarketCap, the market leader is trading at $27,952.35 at press time, after recording a slight increase of 0.15% in its price over the last 24-hour trading period.

The price of BTC has also increased by more than 3% in the last seven days. Additionally, since the last thirty days have increased by 6.57% in the monthly time frame cryptocurrency He also treated his unit king kindly.

On the other hand, BTC’s 24-hour trading volume dropped over 48% to $6,951,099,043. Although Titan of Crypto believes that $137,000 is achievable for BTC, its price will first need to rise by approximately 59% to overcome the all-time high price of $68,789.36 reached in November 2021.

The market leader was attempting to break above the $27,915 resistance level at press time. If BTC closes a daily candle above this price point in the next 48 hours, it could rise to the next key threshold of $29,210 in the next two weeks.

On the other hand, Bitcoin’s failure to close a daily candle above $27,915 in the next few days could invalidate the bullish thesis. In this more bearish scenario, the cryptocurrency’s price may attempt to retest the immediate support level of $26,915 during the following week.

However, Bitcoin has been trading in a medium-term positive price channel, suggesting that its price may rise over the next few days. This ascending price channel had formed over the past few weeks after BTC’s price recorded higher lows and higher highs during this period.

Konfinans.com As we reported, you can access the current market movements here.


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