BTC: market updates for August 9
The market is in the uptrend on the Daily timeframe starting from July 19, after breaking through the upper border of the resistance level – $21,955.
The price hit the resistance level yesterday and now we observe the correction in the market.
The borders of this resistance are $24,810 – $23,900. This price zone will be the target for the bullish movement continuation after the correction is finished.
In case of successful development of the trend, a more distant target will be on the highs of June 6 – 8, where the next resistance is located with the borders of $31,965 – $31,400.
Signals to buy will be relevant until the market is above the nearest support level on the Daily timeframe, the lows of August 3 – 5. The borders of this support are $22,254 – $22,512.
The price hit the resistance level yesterday and now we observe the correction in the market.
The borders of this resistance are $24,810 – $23,900. This price zone will be the target for the bullish movement continuation after the correction is finished.
In case of successful development of the trend, a more distant target will be on the highs of June 6 – 8, where the next resistance is located with the borders of $31,965 – $31,400.
Signals to buy will be relevant until the market is above the nearest support level on the Daily timeframe, the lows of August 3 – 5. The borders of this support are $22,254 – $22,512.
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