FX.co ★ BTC update for August 21,.2023 - Potential for the further drop

Technical analysis:

BTC/USD has been trading sideways at the price of $26.000. Anyway, I see potential for the downside continuation due to the potential bear flag pattern in creation.

Due to the strong downside momentum in the background and potential for the breakout fo the bearish flag pattern, I see possibility for the further downside continuation.

Downside objectives are set at the price of $25.700 and $24.815

Stochastic oscillator is showing upside reading but with no price action confirmation.

Intraday resistance is set at the price of $26.350