FX.co ★ BTC update for August 24,.2022 - Symmetrical triangle in creation, watch for the breakout

Technical analysis:

BTC/USD has been trading sideways at the price of $21.400. I see the symmetrical triangle in creation and potential for the breakout mode.

Trading recommendation:

Due to the sideways regime and symmetrical triangle in creation, I see potential for the breakout mode.

Watch for potential downside breakout and downside objective at the price of $19.000.

Stochastic is showing overbought condition and fresh bear cross, which is sign that downside movement is on the way.

Key resistance is set at the price of $21.700