Bitcoin (BTCUSD) Price Forecast: August 27
Bitcoin is currently trending up and may further bounce up to a $70,000 crucial supply as the crypto market recovers and faces the upper channel. However, the potential breakout from the immediate resistance of $66,526.20 will give additional confirmation for a bullish recovery, if the bulls could increase their efforts in the market.
Key Levels:
Resistance Levels: $62,000.00 $63,000.00, $64,000.00
Support Levels: $50,000.00, $49,000.00, $48,000.00
BTC (USD) Long-term Trend: Bullish (4H Chart)
BTCUSD market may continue rising and the price may further bounce up to a significant level at the upside as the coin market is witnessing a remarkable recovery and remains bullish on the higher time frames. The coin price holds above the $63,000.00 supply level above the moving average line, indicating an uptrend.
The sustained bullish action at the $63,900 high point in the last session has made the largest crypto price further bounce above the supply trend line in its recent high.
The Bitcoin price breakout at the $64,180 resistance value above the EMA-50 as the daily chart opens today indicates the high buying impact of the bulls on the asset and could further bounce up, resulting in intraday gains.
Meanwhile, the BTCUSD price may continue rising if the bulls could add more aggression to their buying motives; the $70,000 previous high level might be retested soon, bolstering buyers for a sustainable rally.
Hence, the market is pointing up on the daily signal, suggesting the Bitcoin coin further bounces up to the level $70,000.00 supply trend mark as the Bitcoin price continues rising in its higher time frame.
BTC (USD) Short-term Trend: Bullish (1H Chart)
The BTCUSD pair is in bullish momentum and could further bounce up to a significant level at the upper channel in its short-term outlook. 
The increase in the momentum by the bulls at the $63,862.07 supply value during the past session has enabled the Bitcoin price to further bounce up and stay strong above the resistance lines in its recent high.
At the press time, the BTCUSD price bounced up to a level of $64,180.00 above the EMA-50 as the 1-hourly chart resumes today. Thus, if this bullish growth pattern is steady, the coin price may continue rising and an established uptrend will be achieved for future growth.
Hence, should the buying pressure persist, and the bulls close the hourly chart above the $64,811.00 barrier, the ongoing recovery could lead the market price of Bitcoin to further bounce up to a level of $64,811.90 and remain stable at the upside.
Furthermore, the daily stochastic signals an uptrend, if the bulls could push harder and sustain the coin price above the $64,811.90 resistance value, the resulting rally may further bounce up to level $70,000 upper resistance in the days ahead in its short-term perspective.
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