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    Aug 04, 2023 at 09:58 // Price 
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
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 <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/fc2/900_900_1/zsbhkraaze1pmfoveuh25wynwz6hctfd.jpg" width="900" height="563" alt="BTC/USD has been stagnant " title=""> 
 <p><strong>Bitcoin (BTC) price is still stable above $29,000, although it is falling below the 50-day line SMA.</strong></p> 
 <h2 style="text-align: justify;" id="bitcoin-price-long-term-forecast-bearish">Bitcoin price long term forecast: bearish </h2> 
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 <p style="text-align: justify;"> Bulls bought dips when the bitcoin price fell to a low of $28,637 on August 1. The crypto price retested the psychological price level of $30,000 after its recovery. After that, Bitcoin fell significantly above the existing support. </p> 
 <p style="text-align: justify;"> The $30,000 upside barrier inhibits the upward movement. Similarly, the support at $29,000 prevented the downtrend from deteriorating. Once these hurdles are overcome, Bitcoin will start a new trend. In the meantime, the price movement was controlled by the Doji candlestick pattern, a small group of confusing candles. </p> 
 <h2 style="text-align: justify;" id="bitcoin-indicator-display"> Bitcoin indicator display </h2> 
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 <p style="text-align: justify;"> Since the 14th quarter, Bitcoin has been trading in the bearish trend zone at a Relative Strength Index value of 43. The price bars are currently below the moving average line but above the $29,000 support. The BTC price has fallen below the value of 40 of the Daily Stochastic. The downward trend has slowed down. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="BTCUSD(Daily Chart) – AUG. 4.23.jpg" src="https://cdn.thebittimes.com/images/2023/08/04/ee2f7562eeb8ff8ce8a530e3ccd5708c.webp" height="570" title="BTCUSD(Daily Chart) – AUG. 4.23.jpg"><br> </p> 
 <h3 style="text-align: justify;" id="technical-indicators">Technical Indicators: </h3> 
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 <p style="text-align: justify;"> <b>Key resistance levels – $30,000 and $35,000 </b> </p> 
 <p style="text-align: justify;"> <b> </b> </p> 
 <p style="text-align: justify;"> <b> Key support levels – $20,000 and $15,000</b> </p> 
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-btc-usd"> What is the next direction for BTC/USD? </h2> 
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 <p style="text-align: justify;"> BTC/USD has been stagnant since the price collapse on July 24. Doji candles dominate the BTC price as it consolidates above the $29,000 support. The candlesticks symbolize the disinterest of buyers and sellers in the direction of the market. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="BTCUSD(4 Hour Chart) – AUG.4.23.jpg" src="https://cdn.thebittimes.com/images/2023/08/04/e1b60b48649495ba4ee51b978452a27b.webp" height="570" title="BTCUSD(4 Hour Chart) – AUG.4.23.jpg"><br> </p> 
 <p style="text-align: justify;"> <i><span style="color: #a0a0a0;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i> </p> 
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Bitcoin Is Stagnating Due To Traders' Disinterest

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TheBitTimes

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