Bitcoin price forecast: BTC / USD pair could rise above $ 47,000

Bitcoin price forecast-August 19
Bitcoin’s price is currently trading at $ 46,576 after falling below $ 43,955 at the opening of today’s deal.
BTC / USD long-term trend: bullish (daily chart) key levels:
Resistance levels: $ 50 000, $ 52 000, $ 53 000
Support levels: $ 42 000, $ 40 000, $ 38 000
BTCUSD – the Daily Bitcoin purchase program is now BTC / USD, and today the entire cryptocurrency market is growing, which can lead to a strengthening of the cryptocurrency market. This latest move marks an upward break from the consolidation phase as it eventually did, but it is important to note that BTC has not passed key technical levels. Bitcoin has consolidated over the past few days and is trying to gain momentum as the bullish trend across the entire Sunday stalls.
Bitcoin price forecast: the bitcoin price could set a new high at the time of writing, with the bitcoin price trading slightly above its current price of $ 46,576. While this is only a slight increase relative to where it has traded in recent days, it is important to note that this is a break in favour of bulls above the 9-day and 21-day moving averages of the narrow trading December seen in recent days. That December, however, was available at $ 43,000 to $ 47,000, decimated by a serious lack of direction from the cryptocurrency.
Meanwhile, if the Relative Strength Index of the technical indicator (14) is decelerated to the north, continuous movement above the upper limit of the channel can detect potential resistance of $ 50,000, which can result in a significant improvement of up to $ 52,000 and $ 54,000, respectively. However, increasing pressure on market sales may cause the price of bitcoin to fall below the 9-day and 21-day moving averages and move towards preliminary support of $ 42,000, 40,000 and 38,000.
BTC / USD medium-term trend: varies according to 4-Hour Chart( 4-hour chart), BTC / USD should rise above $ 47,000 if it rises above UPP

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