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Bitcoin Price Daily Aug. 19 – Consolidation Near $6375

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Bitcoin Price Daily report — August 19th, 2018

The BTC/USD Daily report for August 19th, 2018

The 1 day range for BTC is $6309.3 – $6415.8. It is currently up 0.17% in the last 24 hours.

Today’s Bitcoin Price Headlines

‘Bitcoin Is Functionally Better Than Gold’

  • “Gold is one of the most valuable metals on Earth, with humans finding value in such an element for thousands of years. Over the course of gold’s history, it became a great way for individuals and groups to store value across a variety of settings, countries, and eras. However, with the advent of the internet and the subsequent introduction of Bitcoin, some proponents of digital technologies believe that gold’s time as the primary global store of value might be up.”

Crypto Miners Ignore Price; Focus on Expansion

  • “According to a report from Bloomberg, bitcoin mining has remained profitable for some miners who have improved their investments and efficiencies in the space — even against the continued bitcoin price drops.”

BTC/USD Trading Technicals

Screen Shot 2018 08 19 at 5.51.01 PM

Technicals from Tradingview.com

We’re seeing consolidation between $6300 and $6400 which is good for what’s been a rollarcoaster few weeks. Of course, we’ll consolidate, likely, it looks near $6375 and then burst one way or another in a squeeze. With no ETF news due for some while, but some good news coming elsewhere in crypto, I could see it squeezing back up near $6600 before a correction likely bringing it back to $6500. But we’ll see how that happens.

BTC/USD Trading Charts

To illustrate those technicals, we’ll show a LONG and a SHORT chart today.

Our first chart is from user HamidFarhadi with a SHORT historical chart:

Screen Shot 2018 08 19 at 6.37.01 PM

Our second chart is from user diankamela with a LONG chart:

Screen Shot 2018 08 19 at 6.38.17 PM

Daily Altcoin Events

Many altcoins featured on this list can be traded on Binance.

Bitcoin logo courtesy of bitcoin.org

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