FX.co - BTC update for August 25,.2023 - Potential for the rally towards upside references

2023-08-25T08:42:18

Relevance until2023-08-26

Technical analysis:

BTC update for August 25,.2023 - Potential for the rally towards upside references

BTC/USD has been trading downside in the background but I found rejection fo the support this morning, which is strong sign for the further rally.

Due to the test-reject of the support and the oversold condition, I see potential for the further rally towards upside reference.

Upside objectives are set at $26.300 and $26.500

Key support zone is set at the price of $25.900-$25.800

*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 25,.2023 - Potential for the rally towards upside references