Bitcoin Price Prediction for Today August 31: Sellers Threaten to Short as Buyers Hold $19.5K Support

Original author: Azeez Mustapha

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Bitcoin Trades Marginally as Buyers Hold $19.5K Support – August 31, 2022

Bitcoin’s (BTC) selling pressure has subsided as buyers hold $19.5K support. Bitcoin risks further decline if the bears break below the current support. The price movement has been slow because of the presence of Doji candlesticks.

Bitcoin Price Statistics Data:
•Bitcoin price now – $19,752.03
•Bitcoin market cap –$378,044,346,907
•Bitcoin circulating supply – 19,140,231.00 BTC
•Bitcoin total supply – $414,777,192,869
•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000

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On August 28, Bitcoin’s (BTC) price fell to the low of $19,540 as bulls bought the dips. The current support is equivalent to the historical price level in June and July. In July, Bitcoin declined to the low of $18,774 and $18,912 price levels. In the meantime, buyers are defending the current support of August. For the past week, Bitcoin as trading between $19,540 and $29,500 price levels. The cryptocurrency will trend when the range-bound levels are breached.

What Would You Ask Satoshi Nakamoto? Community Answers

The crypto community has shared what they would ask the inventor of Bitcoin. They want to ask questions that are arising from their private keys and thoughts about mining to artificial intelligence conspiracies. A Twitter user indicated that they would have a conversation with Nakamoto about various topics from the economy to coding, up to their perspectives on the universe, life, and health. The community member said that “a brilliant mind has to be heard on anything.”

Another community member said that they would ask Nakamoto about their thoughts about less energy-intensive alternative blockchains and if they would consider it as a feasible replacement for Bitcoin. Thirdly, the community member asks another question about the BTC creator’s thoughts on his vision versus the current status. Another tweet was asking about the topic of recovering lost Bitcoin. The Twitter user would ask Nakamoto if there is any way to recover all those lost BTC.

Meanwhile, buyers have consistently defended their psychological price level as buyers hold $19.5K support. The RSI has indicated that Bitcoin is at level 35. This implies that the cryptocurrency is approaching the oversold region of the market. In other words, the selling pressure will end as buyers emerge in the oversold region.

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