FX.co ★ BTC update for August 31,.2023 - Potential for the completion of the downside correction

Technical analysis:

BTC/USD had been trading downside yesterday but I see potential for the end of the downside correction and start of the upside continuation.

Due to the breakout of the defined consolidation in the background with strong momentum and potential end of the pullback, I see potential for the further growth towards the next upside reference.

Upside objective is set at the price of $28.600

MACD oscillator is showing fresh upside momentum in the background, which is good sign for the further growth.

Key support is set at the price of $26.770