BTC update for August 10,.2023 – Bear flag pattern and potential for the further downside movement
August 10, 2023 8:25 am
Technical analysis:
BTC/USD has been trading downside in the background and I see potential for the further downside continuation.
Due to the breakout of the rising trend line in the background and bear flag pattern this morning, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $29.340, $29.150 and $28.770
Intraday resistance level is set at the price of $29.640
Additionally, there is the double top formation in the background, which is another sign for the further downside movement….
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading downside
in the background and I see potential for the further downside
continuation.
Due
to the breakout of the rising trend line in the background and bear
flag pattern this morning, I see potential for the further drop
towards lower references.
Downside
objectives are set at the price of $29.340, $29.150 and $28.770
Intraday
resistance level is set at the price of $29.640
Additionally,
there is the double top formation in the background, which is another
sign for the further downside movement….
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: