Bitcoin Approaches All-Time Highs in August 2024

Crypto Analysis Predicts Volatile Bitcoin Price Movement

For the WEEKLY Timeframe, here are the current local levels of supports, and resistances.

Key Bitcoin Levels to Monitor in August 2024:

In the month of August 2024, Bitcoin is anticipated to experience a significant surge in price, potentially reaching or even surpassing its all-time highs (ATHs). According to the latest analysis of the Bitcoin charts, the cryptocurrency’s price movement is expected to be extremely volatile, making it crucial for investors and traders to keep a close eye on the key levels to watch out for during this period.

The horizontal levels that are shown in this picture are the weekly levels of BTC weekly levels of support and resistances;

Resistance: $71,287
Support: $65,578
Another Support: $55,817

The retest on each level would cause a rejection and a bounce back to the direction that it came from before visiting that level. If we break through it, we will see a continuation to the direction of the breakout. A closure of a candle is the confirmation of that case scenario. If the closure breaks, or rejects.

Meanwhile if we check on the lower timeframe for Bitcoin:

There are two horizontal rectangles we are consolidating insode of, I believe that during the month of August we will manage to break through one of them, which will dedicate where the next movement is going to happen. $60,000 is the price of the lower horizontal rectangle, which is the support and also a psychological level of support. The resistance is around $72,000 which is a very strong level of resistance.

Make sure to watch these levels carefully.