Bitcoin (BTC) Price Prediction for August 15
The post Bitcoin (BTC) Price Prediction for August 15 appeared on BitcoinEthereumNews.com. Bitcoin price is currently trading at about $123,280, which is up 0.44% from yesterday. It broke through the $122,000–$122,500 resistance level. The breakout comes after a lot of buying pressure and strong outflows from exchanges, with spot netflow data showing a $78.50M withdrawal on August 14. This indicates heightened accumulation as BTC tests the upper boundary of its rising channel. What’s Happening With Bitcoin’s Price? BTC price dynamics (Source: TradingView) BTC has been going up strongly on the daily chart since late July, breaking a change of character (CHoCH) level and getting back into a bullish structure. Price is now testing a weak high around $123,287, and the Parabolic SAR dots are far below price at $114,352, which shows that the market is bullish. The main area of demand is between $112,000 and $116,000, which is where a lot of order blocks from recent accumulation phases are located. BTC price dynamics (Source: TradingView) The 4-hour chart shows that BTC price is trading in an upward channel, following both trendline support and resistance. The midline has been a short-term dynamic pivot, and the price is now getting close to the upper channel boundary at around $124,200. The Money Flow Index (MFI) is at 85.27, which means that the market is overbought. This means that momentum is strong but may need to cool down soon. Why Is The Bitcoin Price Going Up Today? BTC Spot Inflow/Outflow Data (Source: Coinglass) The current rally is supported by both technical and liquidity factors. Exchange data shows a substantial spot outflow of $78.50M on August 14, signaling reduced selling supply and increased accumulation by large holders. This aligns with the bullish breakout from the $118,500–$120,000 range earlier this week. BTC price dynamics (Source: TradingView) Technically speaking, the 4-hour 20/50/100/200 EMAs exhibit a bullish alignment, with the…
The post Bitcoin (BTC) Price Prediction for August 15 appeared on BitcoinEthereumNews.com.
Bitcoin price is currently trading at about $123,280, which is up 0.44% from yesterday. It broke through the $122,000–$122,500 resistance level. The breakout comes after a lot of buying pressure and strong outflows from exchanges, with spot netflow data showing a $78.50M withdrawal on August 14. This indicates heightened accumulation as BTC tests the upper boundary of its rising channel. What’s Happening With Bitcoin’s Price? BTC price dynamics (Source: TradingView) BTC has been going up strongly on the daily chart since late July, breaking a change of character (CHoCH) level and getting back into a bullish structure. Price is now testing a weak high around $123,287, and the Parabolic SAR dots are far below price at $114,352, which shows that the market is bullish. The main area of demand is between $112,000 and $116,000, which is where a lot of order blocks from recent accumulation phases are located. BTC price dynamics (Source: TradingView) The 4-hour chart shows that BTC price is trading in an upward channel, following both trendline support and resistance. The midline has been a short-term dynamic pivot, and the price is now getting close to the upper channel boundary at around $124,200. The Money Flow Index (MFI) is at 85.27, which means that the market is overbought. This means that momentum is strong but may need to cool down soon. Why Is The Bitcoin Price Going Up Today? BTC Spot Inflow/Outflow Data (Source: Coinglass) The current rally is supported by both technical and liquidity factors. Exchange data shows a substantial spot outflow of $78.50M on August 14, signaling reduced selling supply and increased accumulation by large holders. This aligns with the bullish breakout from the $118,500–$120,000 range earlier this week. BTC price dynamics (Source: TradingView) Technically speaking, the 4-hour 20/50/100/200 EMAs exhibit a bullish alignment, with the…
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