{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/bitcoin-btcusd-bullish-momentum-is-accumulating-2\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/bitcoin-btcusd-bullish-momentum-is-accumulating-2\/","headline":"Bitcoin (BTCUSD) Bullish Momentum is Accumulating","name":"Bitcoin (BTCUSD) Bullish Momentum is Accumulating","description":"Bitcoin (BTCUSD) Price Forecast: August 12 The BTCUSD market is back in green again as the bullish momentum accumulates on the pair. The crypto price reflects recovery sentiment and sends a clear bullish signal trading above the EMA line. Amid the selling pressure the coin gave a bullish breakout from the $61,168.34, suggesting the buy […]","datePublished":"2024-08-12","dateModified":"2024-08-12","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/08\/BITCOIN-IMG-2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/08\/BITCOIN-IMG-2.png","height":2000,"width":2000},"url":"https:\/\/forexschoolonline.com\/bitcoin-btcusd-bullish-momentum-is-accumulating-2\/","about":["Cryptocurrency","Technical Analysis","Trade Idea","Trade Setups"],"wordCount":446,"keywords":["Bitcoin","BTC","BTCUSD","Technical Analysis"],"articleBody":"Bitcoin (BTCUSD) Price Forecast: August 12The BTCUSD market is back in green again as the bullish momentum accumulates on the pair. The crypto price reflects recovery sentiment and sends a clear bullish signal trading above the EMA line. Amid the selling pressure the coin gave a bullish breakout from the $61,168.34, suggesting the buy traders are making a recovery attempt. Thus, if the crypto\u2019s price sustains above the $69,868.93 high level, the potential rally could surge higher to hit the $75,000.00 upper resistance level and beyond, signaling the potential for significant gains as bullish momentum accumulates.Key Levels:Resistance Levels: $60,000.00, $62,000.00, $63,000.00Support Levels: $50,000.00, $49,000.00, $48,000.00BTC (USD) Long-term Trend: Bullish (4H Chart)Bitcoin price looks good and tasty for the buy traders as the bullish momentum is accumulating on the pair in its long-term outlook. Further, the pair\u2019s bullish momentum is accumulating above the moving averages making higher highs and moving towards the upper resistance area. The bulls\u2019 pressure to a $61,035.00 high level in the last session has sustained the coin price above the moving average in its recent high.Amid the recent growth in the crypto market, the BTCUSD buyers provided a bullish breakout at the $61,168.34 supply mark as the daily session opens today, paving the way for further recovery shortly. Thus, a breakout above this level could drive the coin price higher by 20%.Additionally, due to an upward momentum shown by the price indicator, the bullish race might retest the $69,868.93 resistance level which could lead the Bitcoin price to the $75,000.00 upper resistance value soon in its long-term outlook.BTC (USD) Short-term Trend: Bullish (1H Chart)It could be seen that bullish momentum is accumulating on the short-term chart. As a result of low bearish momentum, the BTCUSD market trades in a general bullish trend, indicating the bulls are hindering the market from smashing through the support zones.The coin\u2019s bullish momentum to a $60,471.69 high level in the previous actions has made it possible for the largest crypto to maintain an uptrend in its recent high.At the press time, the Bitcoin market was propelled higher by the bulls until it reached a new high of $61,148.46 resistance mark above the moving average as the 1-hourly session resumes today, suggesting the level and the high impact of the buy investors on the crypto market.Hence, maintaining above the moving average will allow the coin to rise higher, resulting in an intraday gain for the coin buyers.Next, the Bitcoin bullish momentum might continue to accumulate as indicated by the daily signal pointing upwards. Therefore we can expect the bullish momentum to reach the $75,000.00 value soon as the bullish momentum is accumulating in its short-term outlook.Buy Bitcoin on Longhornfx"}