FX.co ★ BTC update for August 04,.2022 - Watch for the breakout of consolidation

Technical analysis:

BTC/USD has been trading sideways at the price of $23.000 and there is potential for the breakout of consolidation.

Trading recommendation:

In case of the upside breakout of resistance at $23.200, watch for buying opportunities on the pullbacks with upside objective at $23.600

In case of the downside breakout of support at $22.650, watch for selling opportunities on the intraday rallies with the downside objective at $21.000