BTC update for August 08,.2023 – Resistance zone on the test
August 8, 2023 9:23 am
Technical analysis:
BTC/USD has been trading upside yesterday and I found test and reject of the resistance at $29.300, which is good sign for the downside rotation.
Due to the sideways condition and rejection of the resistance at the price of $29.300, I see potential for the further downside rotation towards lowers reference.
Downside objective is set at the price of $28.800 and $28.700
Stochastic oscillator is showing overbought condition and potential for the bear cross.
Resistance zone is set at the price of $29.300
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading upside yesterday and I found test and reject of the
resistance at $29.300, which is good sign for the downside rotation.
Due
to the sideways condition and rejection of the resistance at the
price of $29.300, I see potential for the further downside rotation
towards lowers reference.
Downside
objective is set at the price of $28.800 and $28.700
Stochastic oscillator is showing overbought condition and potential for the bear
cross.
Resistance zone is set at the price of $29.300
The material has been provided by InstaForex Company – www.instaforex.com
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