BTC Price Slips Below $46K, But Analysts Predict Bitcoin to Reach All-Time High

The drop below $46,000 had little impact on market sentiment, with the long-term view still leaning towards Bitcoin breaking out above $60,000.
Bitcoin (BTC) posted a low below $45,600 on August 15 as it failed to test the resistance level for the second time.

Analysts predict BTC will hit new highs Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD slipped below $46,000 on Saturday after an earlier breakout failed.
As Cointelegraph reported, bulls have run out of energy in fighting back against a major bear attack that has hindered Bitcoin’s retreat from $50,000.
The turn prompted more fragile sentiment on Sunday, with Bitcoin down 4% on the day as of writing.
“This area is major resistance to me,” warned popular Twitter trader Pentoshi, taking a bullish view on higher time frames.
He added that BTC/USD is almost done with renewing its fight for all-time highs in the region above the $50,000 resistance level and above.
Fellow trader, analyst and Cointelegraph contributor Michael van de Poppe made a similar point:
“Bitcoin is within higher time frame resistance,” he tweeted on Saturday.
"Next week is going to be a big week, I think."
Buy and sell levels on major exchange Binance show that sellers at $48,000 remain firmly in place, with support clustered at $45,000 following a minor decline.

Cardano’s rally cooling Bitcoin has had a noticeable ripple effect among major altcoins.
While many of the top fifty cryptocurrencies by market cap have either erased their gains from the past 24 hours or posted only marginal gains, the top five have all fallen in lockstep with BTC.
Cardano’s ADA token, which rose to prominence along with XRP at the start of the weekend, is currently down from multi-month highs, resting at $2.10.
“Would I buy Cardano here? No,” Van de Poppe warned before the drop.
“Do I expect Cardano to create value in the coming months/years? Yes.”
Market participants continue to expect altcoin opportunities to rise in the coming months, with a particular focus on DeFi tokens. (Cointelegraph)