Bitcoin

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Buyers have seized the initiative as all of the <a href="https://u.today/btc-eth-xrp-doge-and-shib-price-analysis-for-august-7" rel="noopener noreferrer nofollow">top 10 coins</a> are in the green zone. 
<img alt="Top coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="0494deb3-89c4-4c91-a71d-957c3b198195" src="https://u.today/sites/default/files/inline-images/top10_585.png"> 
Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a> 
<h2 id="btc-usd">BTC/USD</h2> 
The rate of Bitcoin (BTC) has risen by 1.48% over the last 24 hours. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="f8a9879b-3b38-4c54-a7c3-2d3acc950e00" src="https://u.today/sites/default/files/inline-images/btc1_122.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the hourly chart, the rate of Bitcoin (BTC) is in the middle of the local channel, between the support at $29,135 and the resistance at $29,585. There are low chances of seeing any sharp moves today as the coin has passed most of its ATR. In this case, sideways trading around $29,400 is the more likely scenario until tomorrow. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="ba389582-edd0-4b1b-8d79-fb01a113145a" src="https://u.today/sites/default/files/inline-images/btc2_107.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
Despite today's rise, the rate of Bitcoin (BTC) is not ready yet for a sharp move as the price is far from the main levels. One can think about a bullish trend reversal only if BTC gets back to the <a href="https://u.today/bitcoin-btc-price-analysis-for-august-6" rel="noopener noreferrer nofollow">$30,000 zone</a> and fixes above it. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="d920058f-71fc-4c41-a3e0-0386aa5e220a" src="https://u.today/sites/default/files/inline-images/btc3_105.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
From the midterm point of view, one should pay attention to the support at $28,830, formed by a false breakout. If bulls can hold the rate above $29,000, there is a possibility of seeing a local rise to the $30,000 range soon. 
Bitcoin is trading at $29,470 at press time.

Bitcoin (BTC) Price Analysis for August 8

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