Relevance up to 16:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Black lines- bullish channel
In our previous analysis on Bitcoin we warned traders that a pull back towards $22,000-$21,000 was imminent and highly likely following the signs by the RSI that reached overbought levels. Price yesterday was close to $24,000 and today is challenging $23,000. Bitcoin is now under pressure. There is potential to reach the $21.700-$22,000 level soon as the RSI has still not reached oversold levels. Price is still inside the upward sloping channel and support is found around $21,500-$21,700. At this level we are going to see the first important test for bulls.
Read more: https://www.instaforex.eu/forex_analysis/287883
