Technical analysis by Willzone about Symbol BTC on 8/19/2024

Bitcoin is currently trading well above the key base levels of $33,114.36, $25,608.60, and $29,503.61, but there's always the possibility of a gradual decline toward these prices. If the market experiences increased volatility, regulatory changes, or significant sell-offs, the price could slowly drop to $33,114.36, testing the market's resilience. A further downturn might bring Bitcoin to $29,503.61, especially if bearish sentiment takes hold. Should external factors like a global economic downturn or policy shifts intensify, a deeper correction toward $25,608.60 is possible. However, once these levels are tested, it could pave the way for one of the strongest bullish eras in Bitcoin's history, setting the stage for a powerful rebound.