FX.co ★ Technical analysis on Bitcoin for September 2nd 2022.

Black line- resistance

Blue lines- expected path

Bitcoin continues to trade around $20,000 price level. For the last six trading sessions Bitcoin has made no real progress. Support remains key around $19,600. A break below $19,600 will be a new bearish signal. Bitcoin remains vulnerable to a move towards $15,000 as long as price is below $24,000. A price bounce towards $23,000 is possible over the coming trading sessions however this would be considered a good opportunity to sell. Medium-term trend remains bearish as long as price is below the black downward sloping trend line.