Crypto: Bitcoin Price - Technical Analysis - 19/08/22

ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Relevance up to 10:00 2022-08-20 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 has been trading downside as I expected. The price has reached the first downside objective at $22.600 and is heading towards next targets. Trading recommendation: Due to the strong supply and broken rising wedge pastern, I see further drop in play. Watch for potential selling opportunities on the intraday rallies with the downside objectives at $21.000 and $19.000. MACD oscillator is showing fresh new momentum to the downside, which is another confirmation of the momentum. Key resistance is set at the price of $25.000

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ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

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