Crypto: BTC/USD - Technical Approach Suggests Continuation Of Declining

ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Technical analysis:

BTC/USD has been trading downside as I expected. There is the breakout of thee tight consolidation and triangle, which is very good confirmation for further downside movement.

Trading recommendation:

Due to the breakout of the triangle pattern and strong supply in the background, I see further downside movement. Watch for potential selling opportunities on the intraday rallies with the downside objectives at the price of $20.800 and $19.000. Stochastic is downside reading with no evidence for the reversal.... Key short-term resistance is set at the price of $21.900

Relevance up to 13:00 2022-08-27 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.

Read more:

ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand, 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). has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. offers access to around 2,500 instruments (CFDs in Stocks, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at:

Follow on:

Twitter Facebook YouTube


Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.78% 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.