BTC/USD: Bitcoin Price - Peter Jacimovic (InstaForex) Takes A Technical Look!

Bitcoin remains vulnerable to another break down

Relevance up to 13:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis:

BTC/USD has been trading upside this morning and I found the breakout of the downside channel in the background. Trading recommendation: Due to the breakout of the downside channel and rejection of the rising trend-line, I see potential for further upside continuation. Watch for potential buying opportunities on the intraday dips with the upside objectives at $24.500 and $30.300. MACD oscillator is showing new fresh upside momentum, which is good sign for further rally. Key support is set at the price of $22.800

 

 

Read more: https://www.instaforex.eu/forex_analysis/287679

Bitcoin remains vulnerable to another break down

InstaForex Analysis

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