Relevance up to 18:00 2022-08-05 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.
Black lines- short-term bullish channel Purple rectangle- short-term support Bitcoin has formed a confirmed solid base around $22,600. Price has tested this level several times but bears were unable to break below it so far. Price remains inside the upward sloping short-term channel. A break below the purple support area will open the way for a move towards the lower channel boundary near $21,000. Resistance is at recent lower high around $23,490. Price is moving lower but short-term trend remains bullish with price forming higher highs and higher lows since the low at $17,600 back in June.
