Based

Parabolic

Bitcoin

Coin

<ul class="news-points"> 
 <li><strong>Ali tweeted yesterday that BTC needs to close a weekly candle above $31.7K to avoid further losses.</strong></li> 
 <li><strong>At press time, BTC was trading at $26,063.76 after it gained 0.83% over the past 24 hours.</strong></li> 
 <li><strong>Short-term technical indicators suggest BTC could rise to above $26,915 in the coming few days.</strong></li> 
</ul> 
<p>The cryptocurrency trader and analyst Ali revealed in a tweet yesterday that <a href="https://coinedition.com/tag/bitcoin-btc-news/" rel="noopener noreferrer nofollow">Bitcoin (BTC) needs to close a weekly</a> candle above $31,700 to avoid further downfall. In the post, he mentioned that the Parabolic SAR on the market leader’s weekly chart is above the <a href="https://coinedition.com/market/price-prediction/" rel="noopener noreferrer nofollow">cryptocurrency’s price</a>, which is a potentially bearish signal indicating a downtrend.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> | The Parabolic SAR has moved above <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> price on the weekly chart. This is often interpreted as a potential bearish signal, indicating a downtrend. <br><br>Based on this indicator, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> must close above $31,700 to signal a bullish trend reversal. <a href="https://t.co/g8MgsyyUkv" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/g8MgsyyUkv</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1692967415108317476?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 19, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>From a price perspective, <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a> was changing hands at $26,063.76 at press time according to CoinMarketCap. This was after the cryptocurrency achieved a 0.83% gain over the past 24 hours. Despite the positive daily performance, BTC�…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/btc-could-suffer-further-losses-if-it-fails-to-close-above-31-7k/">BTC Could Suffer Further Losses if It Fails to Close Above $31.7k</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

BTC Could Suffer Further Losses if It Fails to Close Above $31.7k

Coin Edition

Other articles published on Aug 20, 2023

UAE Banks Federation Well Aware Of BTC’s Disruptive Power

Bitcoin ETFs Likely to Boost Overall ETF Volume With BTC Price

Shibarium Now Operating in Private Mode, Here's What's New

Traders Turn To Polygon, Cardano, & Big Eyes Infinity Amid Frustration Over Crypto Gas Prices

THORChain (RUNE), Dogecoin (DOGE), or VC Spectra (SPCT): Which Will be the Best Performer?

Affirm Stock (NASDAQ: AFRM): Will AFRM Stock regain $20 Mark?

Join our free newsletter for daily crypto updates!