FX.co - BTC update for August 23,.2023 - Potential for the breakout

23 August 2023 at 8:54AM (UTC+0)

Relevance until24 August 2023 at 8:54AM (UTC+0)

Technical analysis:

BTC update for August 23,.2023 - Potential for the breakout

BTC/USD has been trading sideways at the price of $26.000 and I see potential for the breakout mode.

In case of the upside breakout of the resistance at the price of $26.300, I see potential for the further rally towards $26.880

In case of the downside breakout of the support at $26.500, I see potential for the further drop towards $24.740

*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 23,.2023 - Potential for the breakout