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According to<a href="https://www.coingabbar.com/en/price-analysis" rel="noopener noreferrer nofollow"> CoinGabbar statistics</a>, the price of Bitcoin (BTC) versus the US dollar is down 0.27% in early US trading on Wednesday, August 24.Although prices have been reasonably constant this week, bears now appear to have a little technical advantage in the near term, with Bitcoin currently trading at $21,530, down more than 9% in the last seven days, but increased 1.2% in the last 24hrs.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/b68eb6b1d8bc4702b75ae3a7552e78f9.png" />Furthermore, volatility has decreased as a result of the pause, which might suggest that a more significant price move is imminent; currently, statistical probability point to a more significant move to the downside.Notably, the asset just saw a two-month increase that resulted in its price above $25,000, and investors are now focusing on the cryptocurrency’s next target price.Crypto community BTC price predictionThe crypto community on CoinGabbar predicts that<a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow"> Bitcoin’s price will rise by more than 30%</a> from its present level to an average of $29,300 by the end of September 2022, based on the votes of 20,683 community members.Following Bitcoin’s recent rally, which attempted to bring the asset out of a protracted bear market, the community’s consensus outlook remains positive.However, Bitcoin’s failure to surpass the $25,000 threshold has surfaced as macroeconomic concerns continue to dominate. This is due to the cryptocurrency market’s negative reaction to the Federal Reserve’s move to raise interest rates in response to rising inflation.Crypto analyst sees a break higherWith that being said, cryptocurrency trading analyst Michael van de Poppe believes that the cryptocurrency market appears to be more likely to break higher than it is to break downwards right now. He noted:“Markets appear to be more willing to break upwards (crypto) than downwards. Consolidation is taking place, and certain altcoins are already breaking out of it.”Poppe went on to say that “if the EUR/USD has a short-term bounce/reversal, risk-on will perform really well. I’m still amazed by Crypto’s recent performance, which has been stabilizing nicely.”Despite several weeks of increasing volatility, the total value of the cryptocurrency market has remained over $1 trillion as the market anticipates Federal Reserve chairman Jerome Powell’s speech at the annual global central banking conference on August 26.Read also:<a href="https://www.coingabbar.com/en/crypto-currency-news-english/australian-market-regulator-will-prioritise-protecting-citizens-harm-crypto-2" rel="noopener noreferrer nofollow"> Australian market regulator will prioritise protecting citizens from harm Crypto.</a>

Technical Analysis: BTC Price Consolidates above $21,000 as Big Move Imminent for BTC

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