Bitcoin

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Buyers could not hold the initiative for a long time and <a href="https://u.today/binance-coin-bnb-price-analysis-for-august-15" rel="noopener noreferrer nofollow">most of the coins</a> are again in the red zone. 
<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="7a4a8727-71b3-4fa7-9977-a561e0b0a838" src="https://u.today/sites/default/files/inline-images/top10_600.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 fallen by 1% over the last 24 hours. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="1ff7f532-00e6-47bb-af04-48d3841d40d3" src="https://u.today/sites/default/files/inline-images/btc1_125.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) has set the local support level at $29,017. If the the bar closes above the $29,000 zone, there is a chance to see a local bounce back to the $29,200 mark soon. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="861edf37-b6a1-4428-85b6-ed309cd8c41e" src="https://u.today/sites/default/files/inline-images/btc2_110.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the daily time frame, the rate of BTC is trading sideways as the price is far from the support and from the resistance. However, if the drop continues to the $28,750 mark, the accumulated energy might be enough for a move to the $28,000 zone shortly. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="fcd017bb-5e5a-479c-a842-df63133ce0a5" src="https://u.today/sites/default/files/inline-images/btc3_108.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
From the mid-term point of view, the situation is also rather bearish than bullish as the rate of BTC is on the way to test the support at $28,667. 
If the breakout happens, the decline may lead to the test of the $27,500-$28,000 range until the end of the month. 
Bitcoin is trading at $29,113 at press time.

Bitcoin (BTC) Price Analysis for August 16

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