Future

Solana

Bitcoin

Shiba Inu

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bitcoin-price-analysis-will-btc-price-drop-to-26k-in-the-coming-week/">Bitcoin Price Analysis: Will BTC Price Drop To $26K In the Coming Week?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin, the popular digital currency, briefly surged above $30,000 earlier this week before facing challenges in maintaining its upward momentum. As of Friday’s early London session, Bitcoin is trading at around $29,400. The supporters of Bitcoin are working to keep the price above $29,300, hoping for a rise to $34,000. Interestingly, some other cryptocurrencies like Shiba Inu (SHIB) and Solana (SOL) have outperformed Bitcoin recently, with gains of 20% and 7% respectively.</p> 
<p>While the Consumer Price Index (CPI) data on Thursday had a minimal impact on Bitcoin’s price, the focus has shifted to the Producer Price Index (PPI) report released today.</p> 
<h2 id="a-look-at-bitcoins-future-price-action" data-name="a-look-at-bitcoins-future-price-action" class="wp-block-heading">A Look at Bitcoin’s Future Price Action</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">Bear flag target is $26500.<a href="https://twitter.com/hashtag/Btc?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Btc</a> <a href="https://t.co/gLpeVbeJBT" rel="noopener noreferrer nofollow">pic.twitter.com/gLpeVbeJBT</a></p>— PROFIT BLUE (@profit8lue) <a href="https://twitter.com/profit8lue/status/1689867954182328320?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 11, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>A respected crypto analyst known as Profit Blue, who has a good track record in predicting trade outcomes, suggests that Bitcoin has been forming a pattern resembling a bear flag over the past few days. This pattern makes it less likely for the price to reach $30,000 again this year. The analyst anticipates the price to potentially drop to around $26,500 in the next few weeks.</p> 
<p>The analyst identifies a key range between $29,500 and $30,200. If Bitcoin manages to rise above this range in the coming weeks, the predicted price drop may not occur. On the other hand, if the price falls, the analyst expects temporary support to be found between $28,500 and $28,900.</p>

Bitcoin Price Analysis: Will BTC Price Drop To $26K In the Coming Week?

Table of Contents

CoinPedia News

Other articles published on Aug 11, 2023

Injective Price Analysis: INJ Hovers Near 50-Day EMA, What Next?

SKYX Now on PancakeSwap and Aiming for CoinMarketCap and CoinGecko Listings

Crypto gaming secures $297 million in investments in July; allots 63% to infrastructure development

Solana and Optimism Show Bull Signals as Markets Start Slow

SEC Extends Deadline for ARK's Bitcoin ETF Decision

Introducing HarryPotterObamaPacMan8Inu: The “Bullishy Dumb” Meme Coin Taking the Crypto World by ...

Join our free newsletter for daily crypto updates!