Bitcoin (BTC) Price Analysis for August 15

Bitcoin (BTC) price analysis: BTC struggles to maintain above $60K, indicating selling pressure at higher levels. However, technicals suggest that the primary trend is still up. A close below a critical support level could weaken the bullish outlook.

Bitcoin price analysis is bearish today as we saw a strong rejection from the $60,000 resistance and another attempt to push lower. Therefore, BTC/USD is set to continue lower and might reach the next support around the $55,724 mark.

BTC/USD opened at $58,884 today and slowly moved sideways over the past 24 hours. Resistance was found at $59,664, while support was present at $57,777. The overall price movement was contained within a narrow range.

Bitcoin price movement in the last 24 hours: BTC slowly declined as bears attempt to push lower

BTC/USD 24-hour chart. Source: TradingView

The 4-hour chart for Bitcoin price analysis shows us that bears have taken over the market again after a brief attempt by bulls to push higher.Цена биткоина медленно снижалась по мере того, как медведи пытались опуститься ниже

From the morning, Bitcoin slowly declined and reached a low of $58,000. After consolidating for several hours, BTC/USD started to recover and reached a high of $59,000. However, further upside was met with strong selling pressure, indicating that bears are not ready to give up just yet.

Later, another attempt to push lower was seen, leading BTC/USD to reach a new low of $58,300. At the time of writing, Bitcoin is trading around the $58,800 mark, slowly recovering from the morning’s decline.

BTC/USD 4-hour chart. Source: TradingView

Overall, the technical analysis of the 4-hour chart suggests that the bulls are still struggling to push Bitcoin price higher. We can expect further downside later today if the bears manage to break below the next support level.

Bitcoin price analysis: BTC slowly recovers from morning decline, but bears remain active at higher levels

4-hour chart analysis: Bitcoin price slowly recovered from the morning decline. However, further upside was met with strong selling pressure, indicating that bears are not ready to give up just yet. Later, another attempt to push lower was seen.

A morning attempt by bulls to push Bitcoin price higher was met with strong selling pressure, indicating that bears are still active at higher levels. However, technical analysis suggests that the primary trend is still up.

BTC/USD slowly declined and reached a low of $58,000. After consolidating for several hours, BTC/USD started to recover and reached a high of $59,000. However, further upside was met with strong selling pressure.

Later, another attempt to push lower was seen, leading BTC/USD to reach a new low of $58,300. At the time of writing, Bitcoin is trading around the $58,800 mark, slowly recovering from the morning’s decline.

Overall, the technical analysis of the 4-hour chart suggests that the bulls are still struggling to push Bitcoin price higher. We can expect further downside later today if the bears manage to break below the next support level.