The Bitcoin With Downside And The Selling Opportunities

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

Technical analysis:

BTC/USD has been trading downside and I found the breakout of the multi day consolidation and first target reached at $19.000. I still see further downside movement.

Trading recommendation:

Due to the breakout of the multi day consolidation in the background and no big signs for the reversal, I see further downside movement.

Watch for the selling opportunities on the rallies with the next downside objectives at the price of $17.700 and $14.000.

MACD oscillator is showing fresh downside money flow, which is sign that sellers are in control.

Key resistance is set at the price of $20.500



Relevance up to 09:00 2022-09-08 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 trading bots. What are they? How can they help?

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker 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). Consequently, InstaForex has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. Besides, the broker ensures the Negative balance protection. So, the reliability and trustworthiness of this broker raise no doubts.


Instaforex offers access to more than 2,500 instruments (Stocks CFDs, 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 InstaForex on:

Twitter | LinkedIn