BTC update for August 07,.2023 – Bear flag pattern in creation
August 7, 2023 1:24 pm
Technical analysis:
BTC/USD has been trading sideways at the price of $29.000 and I found that potential bear flag pattern in creation adn potential for the downside continuation.
Due to the downside swing in the background and potential completion of the bear flag, I see potential for the further drop towards lower references.
Stochastic oscillator is showing fresh bear cross, which is another good sign for the further lower prices.
Downside objective is set at the price of $28.800
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has
been trading
sideways
at the price of $29.000 and I found that potential bear flag pattern
in creation adn potential for the downside continuation.
Due
to the downside swing in the background and potential completion of
the bear flag, I see potential for the further drop towards lower
references.
Stochastic
oscillator is showing fresh bear cross, which is another good sign
for the further lower prices.
Downside
objective is set at the price of $28.800
The material has been provided by InstaForex Company – www.instaforex.com
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