FX.co - BTC update for August 10,.2022 - Potential for further rally

2022-08-10T11:21:25

Relevance until2022-08-11

Technical analysis:

BTC update for August 10,.2022 - Potential for further rally

BTC/USD has been trading upside this morning and I see potential for further rally.

Trading recommendation:

Due to the bullish momentum divergence in the background and the upside reaction, I see further rally.

Watch for potential buying opportunities on the intraday dips with the upside objectives at $23.269 and $23.900.

MACD oscillator is showing decreasing in the downside momentum, which is good sign for further rally.

Key support is set at the price of $22.800

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for August 10,.2022 - Potential for further rally