Bitcoin turns bullish and is about to reclaim $25K

Bitcoin price analysis
Source: TradingView

Bitcoin price analysis for August 13, 2022, comes on a bullish note for the world’s biggest cryptocurrency and it seems that the chances of the token breaking into an uptrend in the near future remain very high. Additionally, the BTC token has been trying to reclaim the $25K price region which is a major region of resistance for the leading cryptocurrency and it hasn’t been broken for a very long time. In the last 24 hours, we have seen BTC rise by almost 3.56% which confirms that BTC might reclaim the $25K price region in the coming days.

Also as noted in our BTC price analysis for August 12, 2022, the world’s biggest cryptocurrency has been holding above the $23K price region while the nearest support for the token stands at the $22.8K price region.

The data from CoinMarketCap shows that the trading volume of the token dropped by 14.77% in the last 24 hours, followed by a 3.39% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.06019, while the Market Dominance surged to 40.06%.

The daily candle for the token opened at a price of $24401 and reached a daily high of $24859. On the other hand, the daily low for Bitcoin stands at a price of $24334. The price of 1 Bitcoin at the time of writing is $24833.

Bitcoin price analysis for August 13 on the daily chart

Bitcoin price analysis for August 13, 2022, will consider the data from the daily chart below with three major indicators integrated into it.

Bitcoin price analysis
Source: TradingView

The RSI indicator reads a value below 65 which confirms that Bitcoin might soon be entering the overbought region.

The MACD line is moving away from the signal line while the bullish intensity of the histogram increases.

The price action for Bitcoin is situated in the bullish zone of the Bollinger Bands.

Conclusion

Bitcoin price analysis for August 13, 2022, ends on a bullish note for BTC as we can expect BTC to reclaim the $25K price region as well.

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