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12.08.202210:28 Forex Analysis & Reviews: BTC update for August 12,.2022 - Watch for the breakout to confirm furtehr direction

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Technical analysis:

BTC has been trading sideways at the price of $24.000 but there is potential for the breakout mode.

Trading recommendation:

Due to the sideways regime on the BTC, I see potential for the breakout mode.

Watch for potential breakout of the key support at the price of $22.700 to confirm further drop.

Downside objective is set at the price of $20.875.

Stochastic is showing downside reading , which is another sign of the weakness on the BTC

Key resistance is set at the price of $24.900

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