Bitcoin made a corrective move down to the level of 26,800. This corresponds to the 0.786 Fibonacci level for Bitcoin. Currently, it’s struggling to break above this level and moving sideways. If it fails to break through this level, we might see a retracement towards 25,800. However, if it manages to break and close above it, the targets of 27,800 and 28,200 could come into play.

To better understand various scenarios in the sideways-moving crypto market, we analyzed the Bitcoin chart based on the past 4-hour candlestick patterns. Interestingly, we observed that the candlestick patterns between July 24th and August 16th started to resemble each other gradually. We believe this could be an intriguing starting point for predicting potential future movements.

If Bitcoin exhibits a movement towards the $27,500 level in the coming days and then experiences a sharp decline, it appears to share a structural similarity with a pattern observed in the past. Around a date like September 10th, there is a possibility of approximately a 10% drop based on past candlestick similarities. Here’s the latest status of Bitcoin and cryptocurrencies.

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The Latest Status of Bitcoin and Cryptocurrencies

• Bitcoin (BTC) is trading at $26,080 with a 0.15% decrease against the USD. The resistance levels for BTC are in the range of $26,800 to $28,200, while the support levels are between $26,000 and $25,000.
• Ethereum (ETH) is trading at $1,649 with a 0.24% decrease against USDT. ETH has resistance levels in the range of $1,694 to $1,731, and its support levels are between $1,642 and $1,550.
• Optimism (OP) is trading at $1.43 with a 0.64% increase against the USD. OP has resistance levels in the range of $1.49 to $1.60, and its support levels are between $1.36 and $1.20.
• Near (NEAR) is trading at $1.18 with a 1.09% decrease against the USD. NEAR has resistance levels in the range of $1.22 to $1.35, and its support levels are between $1.15 and $1.09.
• Tomo (TOMO) is trading at $1.06 with a 1.19% increase against the USD. TOMO has resistance levels in the range of $1.09 to $1.24, and its support levels are between $0.96 and $0.87.

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