- Bitcoin price looks for a buy signal that will arrive after a sweep of the $20,750 support level.
- Ethereum price drives into the overhead barrier at $1,675, attempting a recovery rally.
- Ripple price needs a buy trigger to start its bounce and recover losses.
Bitcoin price continues to consolidate inside another tight range with no directional bias in sight. This development has caused many altcoins to explode, while Ethereum and Ripple continue to wait for a BTC cue.
Bitcoin price recovery one step away
Bitcoin price continues to consolidate after the recent 12% crash that occurred between August 18 and August 20. This downswing set up multiple equal lows at $20,750. Now, BTC investors can wait for a sweep the liquidity resting below those lows to flip bullish. The emerging recovery rally could propel BTC to the $22,400-to-$23,200 area.
BTC/USD 4-hour chart
While things are looking shaky for Bitcoin price, a flip of the $20,750 support level into a resistance level will postpone the recovery rally. Such a development could trigger a continuation of the downtrend to the BTC $20,000 and $19,000 psychological levels.
