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FX.co ★ BTC update for August 03,.2022 - Potentrial for further rally towards $23.000

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Crypto Analysis:::2022-08-03T11:20:57

BTC update for August 03,.2022 - Potentrial for further rally towards $23.000

Technical analysis:

BTC update for August 03,.2022 - Potentrial for further rally towards $23.000

BTC/USD has been trading upside as like I expected. The price has reached the pivot level at $23.460.

Trading recommendation:

Due to strong upside momentum and the breakout of the downside channel in the background, I see potential for the further rally.

Watch for potential buying opportunities on the intraday dips with the next upside objectives at $23.875 and $24.470.

MACD is showing fresh new upside money flow, which is good sign for further rally.

Key support is set at the price of $22.710

Analyst InstaForex
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