Forecast for Bitcoin (BTC) Value on August 30th

Will traders potentially witness Bitcoin's recovery approaching the $110,000 range in the near future?

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2025 September 8 . 2:18 AM

2 min read

Forecast for Bitcoin's (BTC) Value on August 30th

Forecast for Bitcoin (BTC) Value on August 30th

Bitcoin Price Analysis for August 29

Bitcoin (BTC) has experienced a minor setback in its price over the last day, with a decrease of 1.23%. At the time of writing, BTC is trading at $108,659.

On the hourly chart, the rate of BTC is approaching the local resistance of $108,663. This level could potentially act as a test for the support level for Bitcoin in the near future. If the daily bar closes above this level on the hourly chart, the upward movement of BTC is likely to continue towards the $110,000 zone. Conversely, if the daily bar closes below the current level, it could indicate a potential bearish trend.

However, no reversal signals have been observed yet for Bitcoin. The upward movement, from a midterm point of view, is a continuation of the previous bullish bar closure.

Meanwhile, the price prediction for Dogecoin (DOGE) for August 29 suggests sideways trading in the range of $108,000-$111,000.

It's worth noting that the main crypto's price on the daily time frame has made a false breakout of yesterday's bar low. If the daily bar closes above the false breakout level, it could suggest a continuation of the upward movement.

According to CoinStats, while some cryptocurrencies are rising today, others are in the red zone. The author of the Bitcoin price forecast for August 29 is not explicitly stated in the available search results. The forecasts are typically made by various analysts or institutions such as Bernstein Research or Van Eck, but no specific author for that exact date's prediction is given.

In conclusion, the immediate resistance for Bitcoin is at $108,663, and a close above this level could signal a continuation of the upward trend. However, the market remains volatile, and it's essential to keep a close eye on price movements and potential reversal signals.