United

Bitcoin

<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/bitcoins-price-holds-at-26k-support-analyst-anticipates-volatility-ahead/">Bitcoin’s Price Holds at $26k Support, Analyst Anticipates Volatility Ahead</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin’s (BTC) price has held precariously onto the support level of around $26k since August 18. Most crypto traders are looking at the zone between $24k and 25k as the next major support, which Bitcoin bulls can recuperate. Undeniably, Bitcoin’s volatility is on the horizon, following the recent capitulation that significantly rejuvenated the cryptocurrency bears. </p> 
<p>Moreover, high-impact news is scheduled later this week including the United States Gross Domestic Product (GDP) second release, scheduled on Tuesday, the US unemployment claims on Thursday,&nbsp; and the unemployment rate on Friday.</p> 
<h2 id="poppes-take-on-bitcoin-price-action-and-market-outlook" data-name="poppes-take-on-bitcoin-price-action-and-market-outlook" class="wp-block-heading">Poppe’s Take on Bitcoin Price Action and Market Outlook&nbsp;</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">When is the volatility coming back on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>? <br><br>Prices have been stalling, after we've been witnessing a significant collapse and liquidation cascade. More than $1 billion has been wiped out of the markets ten days ago. <br><br>The largest cascade in this bear cycle. What's next? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/Zrjg6O4e0d">pic.twitter.com/Zrjg6O4e0d</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1696090930682475003?ref_src=twsrc%5Etfw">August 28, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>According to a post by a popular crypto analyst and influencer, Michaël van de Poppe, Bitcoin price is likely to continue dropping in the coming weeks based on historical data analysis. Notably, Bitcoin price has historically performed poorly in August and September, apart from the bull market years. However, Bitcoin price has performed well historically in October through December.&nbsp;</p> 
<blockquote class="wp-block-quote"> 
 <p>“In that regard, it’s currently the period to DCA and accumulate your positions and I’d be taking a weekly/monthly DCA approach on this, through which you can get a balanced position into the markets,” the analyst noted.</p> 
</blockquote> 
<p>From the short-term perspective, Poppe expects Bitcoin price to find temporary support at around $25.7k. If the mid-range support level fails to hold in the near term, the analyst expects the crucial support zone between $24.8k and $25.1k to hold.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh5.googleusercontent.com/eCf6yfj8fzgMrH2QijsHkl0dYRQnM2PzVFkeybUG_k-zX45T703Q9hVwLsb9JwY9juMjj1l6Zi5WiUotIDcZ8XcJ9kp4Ro_rUtkrp-EwcNP9vX6QYSp3VF9xjjBJy-ViIbBxcfr2Ub7Vbir4P5PmjcM" alt="">
</figure> 
<p>Meanwhile, Poppe highlighted that the weekly 200 EMA, which is currently acting as a strong support level, should determine the next Bitcoin price action.</p>

Bitcoin’s Price Holds at $26k Support, Analyst Anticipates Volatility Ahead

Table of Contents

CoinPedia News

Other articles published on Aug 28, 2023

FTX CEO’s Bail Revoked in Cryptocurrency Fraud Case!

PM Modi Advocates Global Framework for Crypto Regulation and Ethical AI at B20 Summit

Stablecoins Overtake PayPal, MasterCard: $6.87 Trillion Volume Settled

Shiba Inu Forecasted to Rise 925%: Here's When

Robinhood Emerges as Third-Largest Bitcoin Holder with a $3 Billion Stash

XRP Gains Edge As Ripple Secures 31 US Payment Licenses, Ignites Crypto Debate

Join our free newsletter for daily crypto updates!