Bitcoin

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Bears are not going to give up so easily, according to the <a href="https://u.today/cardano-ada-price-analysis-for-august-1" rel="noopener noreferrer nofollow">CoinMarketCap ranking</a>. 
<img alt="Top coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="8187b7e1-1f52-40c3-b1bf-af9deba1dab6" src="https://u.today/sites/default/files/inline-images/top10coin_3.png"> 
Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a> 
<h2 id="btc-usd">BTC/USD</h2> 
Bitcoin (BTC) is one of the biggest gainers today as its rate has risen by almost 2%. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="24ab1b66-1f01-4369-965e-eb65f8a98ce8" src="https://u.today/sites/default/files/inline-images/btc1_120.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
Despite the fall, the rate of Bitcoin (BTC) is bearish on the local chart as the price is about to test the recently formed support at $29,162. If the bar closes below that mark, the decline may continue to the $29,000 zone soon. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="cbb2cf4b-0550-4ba1-89f1-f253a12b0396" src="https://u.today/sites/default/files/inline-images/btc2_105.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the daily time frame, the price of Bitcoin (BTC) has failed to fix above the level of $29,508, which means that sellers remain more powerful than buyers. In this regard, the more likely scenario is the ongoing correction to the $28,500 range. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="f34c8120-c814-4071-98da-2667094518e9" src="https://u.today/sites/default/files/inline-images/btc3_103.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
From the midterm point of view, traders should focus on the previous candle low at $28,842. If the closure happens far from it, buyers may seize the initiative, which can lead to a rise to $30,000. 
Such a scenario is relevant until mid-August. 
Bitcoin is trading at $29,255 at press time.

Bitcoin (BTC) Price Analysis for August 2

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