BTC update for August 21,.2023 – Potential for the further drop
August 21, 2023 9:28 am
Technical analysis:
BTC/USD has been trading sideways at the price of $26.000. Anyway, I see potential for the downside continuation due to the potential bear flag pattern in creation.
Due to the strong downside momentum in the background and potential for the breakout fo the bearish flag pattern, I see possibility for the further downside continuation.
Downside objectives are set at the price of $25.700 and $24.815
Stochastic oscillator is showing upside reading but with no price action confirmation.
Intraday resistance is set at the price of $26.350
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading sideways at the price of $26.000. Anyway, I see potential for the downside continuation due to the potential bear flag pattern in creation.
Due to the strong downside momentum in the background and potential for the breakout fo the bearish flag pattern, I see possibility for the further downside continuation.
Downside objectives are set at the price of $25.700 and $24.815
Stochastic oscillator is showing upside reading but with no price action confirmation.
Intraday resistance is set at the price of $26.350
The material has been provided by InstaForex Company – www.instaforex.com
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