Bitcoin (BTC) Price Prediction for August 4
All top 10 coins have returned to the green zone on the first day of the week, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 1.36% since yesterday.
On the hourly chart, the rate of BTC is going up after a breakout of the $114,926 level. If buyers can hold the gained initiative, the rise is likely to continue to the $116,000 mark.
On the longer time frame, buyers are trying to seize the initiative. However, traders might need more time to accumulate energy for a further move.
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In this regard, consolidation in the area of $114,000-$117,000 is the most likely scenario.
From the midterm point of view, neither bulls nor bears are controlling the situation on the market. This statement is confirmed by falling volume. All in all, traders are unlikely to see increased volatility anytime soon.
Bitcoin is trading at $115,288 at press time.