{"id":25814,"date":"2022-08-13T10:25:59","date_gmt":"2022-08-13T10:25:59","guid":{"rendered":"http:\/\/egrowonline.com\/?p=25814"},"modified":"2022-08-13T10:25:59","modified_gmt":"2022-08-13T10:25:59","slug":"a-look-at-bitcoin-heading-into-the-weekend-whats-next-for-the-apex-cryptocurrency","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=25814","title":{"rendered":"A Look At Bitcoin Heading Into The Weekend: What’s Next For The Apex Cryptocurrency?"},"content":{"rendered":"


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Bitcoin<\/strong> BTC\/USD<\/span> was trading mostly flat during Friday\u2019s trading session. The crypto has been unusually quiet over the month of August, trading mostly sideways between about $22,700 and $24,300.<\/p>\n

The long-term consolidation within the horizontal pattern has helped Bitcoin to cool its relative strength index (RSI), which reached about 61% on July 28, after the crypto shot up over 12% between that day and the day prior.<\/p>\n

Despite the low volatility, Bitcoin is trading in a clear and consistent uptrend on the daily chart, as is Dogecoin<\/strong> DOGE\/USD<\/span> and Ethereum<\/strong> ETH\/USD<\/span>, although Ethereum has been the strongest crypto of the three. So far this month, Bitcoin has gained just 3.65%, Dogecoin has risen about 4.8% while Ethereum has soared more than\u00a014% higher since opening on Aug. 1.<\/p>\n

The lack of movement in Bitcoin and Dogecoin is due to a lack of trading volume, which indicates a lack of interest even though the bulls are in control. Ethereum, on the other hand, has been gaining in popularity as the crypto approaches its planned merge date<\/a>, which was bumped up to Sept. 15.<\/strong><\/p>\n

Ethereum Classic<\/strong> ETC\/USD<\/span> looks to be the\u00a0crypto benefiting the most<\/a> from the interest in Ethereum. The crypto surged over 20% between Wednesday and Friday.<\/p>\n

If Bitcoin can catch bullish momentum over the weekend,\u00a0Ethereum and other cryptos could follow suit.<\/p>\n

Want direct analysis? Find me in the BZ Pro lounge! Click here<\/a> for a free trial.<\/em><\/p>\n

The Bitcoin Chart:<\/strong> Bitcoin\u2019s most recent confirmed higher low within its uptrend was formed on Aug. 10 at $22,669 and the most recent higher high was printed at the $24,929 mark during Thursday\u2019s 24-hour trading session. On Friday, Bitcoin fell lower to test support at the eight-day exponential moving average and bounced up from the level, perhaps printing the next higher low.<\/p>\n