FX.co - BTC update for August 25,.2022 - Flag pattern in creation, watch for the breakout

2022-08-25T08:37:05

Relevance until2022-08-26

Technical analysis:

BTC update for August 25,.2022 - Flag pattern in creation, watch for the breakout

BTC/USD has been trading sideways at the price of $21.725 and I still wait for the breakout on momentum to confirm further direction.

Trading recommendation:

Due to the sideways regime at the price of $21.700, I see potential for the breakout mode.

Watch for the selling opportunities in case of the downside breakout of the flag.

Downside objectives are se tat $20.800 and $19.135.

Stochastic oscillator is showing bear divergences and fresh bear cross.

*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 25,.2022 - Flag pattern in creation, watch for the breakout