BTC update for August 14,.2023 – Fake breakout of the support zone
August 14, 2023 9:23 am
Technical analysis:
BTC/USD has been trading upside this morning and I found fake breakout of the support level at $29.200, which is sign that sellers could be in the trap.
Due to the strong rejection of the support at $29.200 and potential for the fake breakout of the consolidation, I see potential for the further rally towards upside references.
Upside objectives are set at the price of $29.670 and $30.110
Stochastic oscillator is showing bullish divergence and potential for the further rally…
Intraday support is set at the price of $29.000
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading
upside this morning and I found fake
breakout of the support level at $29.200, which is sign that sellers
could be in the trap.
Due
to the strong rejection of the support at $29.200 and potential for
the fake breakout of the consolidation, I see potential for the
further rally towards upside references.
Upside
objectives are set at the price of $29.670
and $30.110
Stochastic
oscillator is showing bullish
divergence and potential for the further rally…
Intraday
support is set at the price of $29.000
The material has been provided by InstaForex Company – www.instaforex.com
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