Crypto: BTC/USD On 31 Of August - Potential For The Downside Rotation

ByBit talks trading bots. What are they? How can they help?

Relevance up to 13:00 UTC+2

Technical analysis:

BTC/USD has been trading sideways at the price of $20.300 and i see potential for the the downside rotation towards lower reference point.

Trading recommendation:

Due to the test and reject of the resistance at the price of $20.500, I see further downside movement.

Watch for potential selling opportunities on the intraday rallies with the downside objective at the price of $19.700.

Key resistance is set at the price of $20.500

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.

Source: Forex Analysis & Reviews: BTC update for August 31,.2022 - Potential for the downside rotation of the resistance

ByBit talks trading bots. What are they? How can they help?

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand instaforex.eu, regulated by CySec with license number 266/15.

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). InstaForex.eu has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex.eu is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds.

InstaForex.eu offers access to around 2,500 instruments (CFDs in Stocks, ETFs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at: www.instaforex.eu

Follow InstaForex.eu on:

Twitter Facebook YouTube

 

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.82%. of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.