Bitcoin

Momentum

<p>Bitcoin is about to conclude a difficult week after falling by almost 10%. Nevertheless, buyers appear determined to stop this downtrend.</p>
<figure id="attachment_356717" aria-describedby="caption-attachment-356717" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTC.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-356717" src="https://cryptopotato.com/wp-content/uploads/2024/08/BTC.png" alt="BTC 29 Aug 2024" width="2247" height="1223" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/BTC.png 2247w, https://cryptopotato.com/wp-content/uploads/2024/08/BTC-300x163.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/BTC-1024x557.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/BTC-768x418.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/BTC-1536x836.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/BTC-2048x1115.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/BTC-50x27.png 50w" sizes="(max-width: 2247px) 100vw, 2247px"></a>
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  Chart by TradingView
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</figure>
<h2 id="btc-price-prediction">BTC Price Prediction</h2>
<p>A closer look at Bitcoin shows that it formed a bearish wedge from which the price fell between Monday and Tuesday. Luckily, buyers showed resilience at the 58k support level and managed to stop this downtrend, at least for now.</p>
<p>It is critical for the BTC price to hold above the $58K support this weekend. Otherwise, sellers will take full control over the PA and aim to revisit the low 50k support like in early August.</p>
<figure id="attachment_356716" aria-describedby="caption-attachment-356716" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-27-31.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-356716" class="wp-caption-text">
  Chart by TradingView
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</figure>
<h2 id="btc-momentum-remains-bearish">BTC Momentum Remains Bearish</h2>
<p>Even if buyers are returning, the overall momentum on the weekly MACD remains bearish. The moving averages are falling, but at least the histogram is making higher lows. This could indicate that a reversal of this downtrend could happen in the future.</p>
<p>To confirm a reversal and turn bullish, Bitcoin’s price needs to break above $64K again and turn that key level into a support.</p>
<figure id="attachment_356727" aria-describedby="caption-attachment-356727" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-356727" src="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43.png" alt="BTCUSD_2024-08-29_15-42-43" width="2437" height="1190" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43.png 2437w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43-300x146.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43-1024x500.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43-768x375.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43-1536x750.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43-2048x1000.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-29_15-42-43-50x24.png 50w" sizes="(max-width: 2437px) 100vw, 2437px"></a>
 <figcaption id="caption-attachment-356727" class="wp-caption-text">
  Chart by TradingView
 </figcaption>
</figure>
<p>BTC is standing at $59,420 at press time.</p>
<p>&nbsp;</p>
<p>The post <a href="https://cryptopotato.com/bitcoin-price-prediction-for-this-weekend/" rel="noopener noreferrer nofollow">Bitcoin Price Prediction for This Weekend</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Bitcoin Price Prediction for This Weekend

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