Bitcoin turns slightly bullish as dominance drops

Bitcoin price analysis for August 25, 2022, comes on a slightly bearish note for the world’s biggest cryptocurrency as the chances of making higher highs in the crypto space remain considerably low. It is also important to note that the bulls have continued to retain prices above the $21K price level in the last 24 hours and it seems that similar movement will follow in the near future as well. Interestingly, the prices for the BTC token surged by only 0.71% in the last 24 hours which means that the bullish intensity of the market might increase soon.

As noted in our BTC price analysis for August 24, 2022, the leading cryptocurrency is having trouble in breaking the nearest resistance at the $25K price level. It seems that higher prices might now follow until this region is turned into support.

The data from CoinMarketCap shows that the trading volume of the token dropped by 5.15% in the last 24 hours, followed by a 0.39% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.07472, while the Market Dominance dropped to 39.77%.

The daily candle for the token opened at a price of $21368 and reached a daily high of $21637. On the other hand, the daily low for Bitcoin stands at a price of $21310. The price of 1 Bitcoin at the time of writing is $21567.

Bitcoin price analysis for August 25 on the daily chart

Bitcoin price analysis for August 25, 2022, will consider the data from the daily chart below with three major indicators integrated into it.

Source: TradingView

The RSI indicator reads a value below 41 which means that the selling pressure is still higher for Bitcoin.

The MACD line remains below the signal line while the MACD histogram also remains bullish for now.

The price action for Bitcoin is retesting the lower end of the Bollinger Bands.

Conclusion

Bitcoin price analysis for August 25, 2022, ends on a slightly bullish note for the leading cryptocurrency as BTC might retain $21K price level.