Bitcoin (BTC) Markets Are Trading in a Tight Sideways Range

Cryptocurrency markets are trading in a tight sideways range on Monday as markets digest the impact of tariff announcements on Wednesday.

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Market Statistics

In the past 24 hours, Bitcoin (BTC) has decreased by 0.48%.

The total cryptocurrency market cap has decreased by 0.14% in the past 24 hours, reaching $1.17 trillion.

In the past 24 hours, seven out of the ten largest cryptocurrencies are trading in the red.

Top Gainer (24 Hour)

CRYPTO:AR

+2.44%

Top Loser (24 Hour)

CRYPTO:BTC

-0.48%

Trader Notes

Altcoin Sherpa, a popular crypto trader, shared his analysis of Bitcoin's charts. While he remains bullish on the daily timeframe, he noted that the weekly chart tells "a different story," suggesting bearish medium-term sentiment.

Still bullish on the daily.

Weekly tells a different story.

Maybe a triple top on the 3W (not confirmed yet).

Not in a hurry here. BTC still looks good on lower timeframes (4H, 1H) and I'm adjusting my trades accordingly.https://t.coingecko.com/en/coins/bitcoin

— Altcoin Sherpa (@altcoin_sherpa) August 20, 2024

Smiley Capital expressed immense signs of strength for Bitcoin, predicting that $76,000 will hold as the bottom.

Massive signs of strength here for #BTC.

Still expecting 76k to hold the bottom.

Expecting a strong bounce from here.

Best entry is at the bottom. But sometimes it's better to miss an entry than to enter a bad trade.

Don't trade what you can't afford to lose.

Stay safe out there.

— Smiley Capital (@SmileyCapital) August 20, 248