FX.co - BTC update for August 02,.2023 - Potential for the breakout mode

2023-08-02T16:57:18

Relevance until2023-08-03

Technical analysis:

BTC update for August 02,.2023 - Potential for the breakout mode

BTC/USD has been trading downside today and I see that market formed defined trading range. There is potential for the breakout mode.

In case of of the breakout of the support at $28.500 and hold below, I see potential for the further drop towards $27.125

In case of the upside breakout of the resistance at $30.300 and hold above, I see potential for the growth towards $31.350

*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 02,.2023 - Potential for the breakout mode