Forecast on Bitcoin (BTC) Value for August 24th
In the world of cryptocurrencies, the focus is currently on Bitcoin (BTC) as it hovers around the $114,590 mark at press time. However, the broader picture for Bitcoin remains bearish, as stated in the opening paragraph.
Despite a minor 0.17% increase over the last day, Bitcoin has made a false breakout of the support of $111,919 from a midterm perspective. This could potentially lead to a correction to the $110,000 area, if such a move occurs in the near future.
On the hourly chart, the rate of BTC is actually near $114,323, a slight deviation from the press time price. It's important to note that the daily ATR for BTC has been passed, suggesting that increased volatility is unlikely to occur by tomorrow.
The sellers' pressure may cause a test of the support level of $111,919 within the next few days. This prediction is based on the current market trend and the false breakout of the support level mentioned earlier.
Looking further ahead, Denys Serhiichuk has created a Bitcoin price speculation for August 2023. However, the specifics of this prediction have not been disclosed at this time.
In other news, no new facts were provided about Binance Coin (BNB) in this paragraph. As always, we will continue to monitor the market and bring you the latest updates as they become available.
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