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Sellers Threaten to Short as Buyers Hold $19.5K Support

Sellers Threaten to Short as Buyers Hold $19.5K Support

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Bitcoin Trades Marginal as Buyers Face $19.5k Support – August 31, 2022

Bitcoin (BTC) selling pressure has eased with buyers holding support at $19.5,000. Bitcoin’s risk will continue to decline if bears break below current support. Price movement has been slow due to Doji candlesticks.

Bitcoin price statistics:
•Bitcoin price now – $19,752.03
•Bitcoin market cap – $378,044,346,907
• Recycled bitcoin supply – 19,140,231.00 BTC
•Total supply of Bitcoin – $414,777,192,869
•Bitcoin Coinmarketcap Ranking – #1

Resistance levels: $50,000, $55,000, $60,000
Support levels: $25,000, $20,000, $15,000

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On August 28, Bitcoin (BTC) price hit a low of $19,540 as bulls bought the bills. The current support corresponds to the historical price level of June and July. In July, Bitcoin fell to its lowest price levels of $18,774 and $18,912. Meanwhile, buyers are defending the current August support. Over the past week, Bitcoin traded between the $19,540 and $29,500 price levels. Cryptocurrency develops when the borders of the region are crossed.

What would you ask Satoshi Nakamoto? Community responses

The crypto community has shared what they would ask the inventor of Bitcoin. They want to ask questions that arise from their private keys and thoughts, from mining to AI conspiracies. One Twitter user reported that they chat with Nakamoto on a variety of topics, from economics to coding, to their views on the universe, life, and health. A community member said that “a brilliant mind needs to be heard about everything.”

Another community member said they would ask Nakamoto about their thoughts on alternative blockchains that consume less energy and whether they see it as a possible replacement for Bitcoin. Third, a community member asks another question about BTC creator’s thoughts regarding his vision and current situation. Another tweet asked about recovering lost Bitcoin. A Twitter user asks Nakamoto if there is any way to recover all lost BTC.

Bitcoin Price Forecast for Today August 31: Sellers Threaten to Short as Buyers Hold $19.5K Support
BTC/USD – Daily Chart

At the same time, buyers have been continuously defending their psychological price level as buyers have support at $19.5000. The RSI has shown that Bitcoin is at the level of 35. This means that the cryptocurrency is approaching the oversold territory of the market. In other words, the selling pressure ends when buyers appear in the oversold area.

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