FX.co - BTC update for August 22,.2023 - Potential for the further drop

2023-08-22T08:45:11

Relevance until2023-08-23

Technical analysis:

BTC update for August 22,.2023 - Potential for the further drop

BTC/USD has been trading sideways at the price of $26.000. Anyway, I see potential for the downside continuation.

Due to the strong downside momentum in the background and the tight range in creation, I see potential for the further drop towards lowe reference.

Downside objective is set at the price of $24.900

Key resistance is set at the price of $26.200

*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 22,.2023 - Potential for the further drop