Bitcoin

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September has started bearish for most of the coins, according to <a href="https://u.today/xrp-prediction-for-august-31" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="26ec2dc7-c440-4d0e-8e1a-e52f52b47e34" src="https://u.today/sites/default/files/inline-images/top10_1329.png">Top coins by <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
<h2 class="text-align-justify" id="btc-usd">BTC/USD</h2>
The rate of Bitcoin (BTC) has declined by 2.04% since yesterday. Over the last week, the price has dropped by 9.31%. <img data-entity-type="file" data-entity-uuid="1fe54ea6-1453-4868-a7ac-0c8d908297e1" src="https://u.today/sites/default/files/inline-images/btc1_219.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of BTC is returning to the local support level of $57,728. If the daily bar closes near that mark, one can expect a test of the $57,000 zone soon. <img data-entity-type="file" data-entity-uuid="e5836ef4-c91f-406b-b71d-dacc067603f4" src="https://u.today/sites/default/files/inline-images/btc2_200.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, the picture is also bearish. If a breakout of the $57,750 level happens, the accumulated energy might be enough for a move to the <a href="https://u.today/bitcoin-btc-prediction-for-august-30" rel="noopener noreferrer nofollow">$56,000-$57,000 range</a>. <img data-entity-type="file" data-entity-uuid="6f19cb18-d871-4aa5-af7f-728e3bc8d35b" src="https://u.today/sites/default/files/inline-images/btc3_198.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, traders should focus on the weekly bar closure. If the candle closes below $58,000, there is a high chance of an ongoing correction within the next few days.
Bitcoin is trading at $58,047 at press time.

Bitcoin (BTC) Prediction for September 1

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