Bitcoin (BTC) Price Prediction for August 10

Most coins have returned to the red zone on the last day of the week, according to CoinStats.

BTC/USD

The price of Bitcoin (BTC) has gone up by 1.3% over the last day.

On the hourly chart, the rate of BTC is trying to fix above the local resistance of $118,500. If it happens, the upward move is likely to continue to the $119,000 mark by tomorrow.

On the bigger time frame, traders should pay attention to the nearest level of $118,775.

If bulls can hold the gained initiative, the energy might be enough for an ongoing upward move to the $120,000 range.

From the midterm point of view, the rate of the main coin is far from the key levels. However, if a breakout of the $123,236 resistance happens, one can expect a new all-time high shortly.

Bitcoin is trading at $118,592 at press time.