Does Bitcoin (BTC) have chance to rise above $20,000 next week?
The last day of the week is likely to be bullish for the cryptocurrency market as most of the coins are going up.
BTC/USD
Even though most of the coins are in the green zone, the rate of Bitcoin (BTC) has declined by 1.21% over the last week.
Bitcoin (BTC) is trading near the local resistance level at $19,832 against the low volume. If buyers can hold the initiative until the end of the day, there is a chance to see a breakout.
However, one should also pay attention to the CME gap at the $19,775 mark.
On the daily time frame, Bitcoin (BTC) has made a false breakout of yesterday’s low at $19,667. If the decline stops, one can expect a slight upward move to the vital zone of around $20,000 next week.
On the bigger chart, the situation is worse as Bitcoin (BTC) is trading below $20,000. If a breakout of the nearest support level at $19,526 happens and the candle closes below it, the next area where buyers can try again to seize the initiative is the zone around $18,900.
Bitcoin is trading at $19,776 at press time.
Source: https://u.today/bitcoin-btc-price-analysis-for-september-4