Bitcoin (BTCUSD) Price Forecast: August 9
BTCUSD rebounded as prices began to rise amidst the recent fluctuations in the market. The largest crypto may continue rising as it recovers. The coin gave a break out from the daily resistance of $57,674.69 value, if the bulls could push the price high and the market price sustains above the $73,079.99 high mark, the potential rally could surge high to hit the $75,000.00 upper higher level and set the potential for further growth.
Key Levels:
Resistance Levels: $58,000.00 $59,000.00, $60,000.00
Support Levels: $50,000.00, $49,000.00, $48,000.00
BTC (USD) Long-term Trend: Bearish (Daily Chart)
Amid the recent controversy in the crypto market, BTCUSD has rebounded as price begins to rise again due to investor’s concern about its higher time frames. 
The coin price has begun to trend upward below the moving average, indicating a bearish trend.
Today, the BTCUSD price rebounded, as price begins to rise again at the $57,249.53 resistance value below the EMA-50 as the daily chart opens, indicating strong conviction in buyers.
Thus, with sustained buying, Bitcoin price may likely test the support strength of the recently breached $73,709.99 and set the stage for future growth.
In addition, as the Bitcoin price rebounded and began to rise, we will now be looking at the continuity of the bullish run as the price projector points upwards, indicating an uphill momentum. From the look of things, the crypto will possibly keep growing and the $75,000.00 supply value might be the target in the days ahead in its long-term outlook.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
After updating the lows, the BTCUSD pair rebounded, as the price began to rise in its medium-term outlook. The coin price is seen below the EMA-50, suggesting a bearish trend, due to the high impact of the short-term traders in the price flow.
Due to investors’ concern about the Bitcoin market, the coin rebounded, as the price began to rise at the $57,249.53 supply level below the moving average 50, as the 4-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.
Additionally, the pair is pointing up on the daily signal at around level 79%, indicating that the market selling pressure has ended. Hence, the price distribution is expected to reach a high at $75,000.00 upper high channel soon in its medium-term time frame.
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