Forecast for Bitcoin's (BTC) Value on August 19th
At press time, Bitcoin (BTC) is trading at $115,599, marking a fall after the previous bearish bar's closure. This decline indicates a more bearish trend for the world's leading cryptocurrency.
The daily Average True Range (ATR) of BTC has been surpassed, suggesting low chances of increased volatility by tomorrow. The current trading price of Bitcoin is above the bounced-off bar low, but a test of the support level may occur due to the lack of bullish action.
On the hourly chart, the rate of BTC has made a false breakout of the formed support level of $114,871. If bulls do not seize the initiative soon, a test of this support level is expected.
Despite the bearish outlook, it's worth noting that according to CoinStats, the majority of cryptocurrencies are rising today. However, from a midterm point of view, the situation for Bitcoin is more bearish than bullish.
If Bitcoin breaks out, it is likely to continue falling to the $112,000-$113,000 zone. The overall trend for Bitcoin is currently bearish based on the mentioned factors.
It's important to note that the author of a specific Bitcoin price prediction from August 18 could not be definitively identified in the provided search results. While some forecasts from 2025 mention analysts like Artur Hayes and Dr. Murray A. Rudd with Dennis Porter, no direct link to a prediction specifically dated August 18 was found.
In the past day, the price of Bitcoin has risen by 0.35%. However, this increase has not been enough to reverse the overall bearish trend.
In conclusion, the current trend for Bitcoin suggests a bearish outlook, with a potential test of the support level in the near future. Investors and traders should closely monitor the market for any signs of a bullish reversal.
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