Bitcoin price analysis for August 14, 2022, comes on a sluggish note for the world’s biggest cryptocurrency as it is clear that the prices have dropped by 0.70% in the last 24 hours and investors can expect additional price drops in the near future if the bulls failed to regain the control of the price action. Over the past week, BTC was able to break past the $24K price region and aimed for the $25K price region which now seems to be a region of major resistance for the price action of the leading cryptocurrency.
As noted in our BTC price analysis for August 13, 2022, Bitcoin has a major support at the $22.8K price region which has been holding for long at the time of writing and we can expect BTC to retest it if $25K isn’t reclaimed.
The data from CoinMarketCap shows that the trading volume of the token dropped by 18.93% in the last 24 hours, followed by a 0.34% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.04729, while the Market Dominance dropped to 39.87%.
The daily candle for the token opened at a price of $24443 and reached a daily high of $14640. On the other hand, the daily low for Bitcoin stands at a price of $24343. The price of 1 Bitcoin at the time of writing is $24565.
Bitcoin price analysis for August 14 on the daily chart
Bitcoin price analysis for August 14, 2022, will consider the data from the daily chart below with three major indicators integrated into it.
The RSI indicator reads a value below 63 which confirms that Bitcoin bulls are still overall in control.
The MACD line is moving away from the signal line and the histogram remains bullish.
The price action for Bitcoin is situated in the bullish zone of the Bollinger Bands.
Conclusion
Bitcoin price analysis for August 14, 2022, ends on a sluggish note for BTC as we can expect BTC to retest $22.8K.
