BTC review dated 08.09.2022

08.09.2022

240

1 min

Bitcoin (4H)

On the four-hour timeframe, one can notice the formation of the descending channel. Bitcoin’s rate has been moving within the channel for more than two weeks. The price of the asset has returned above $19 000. If bitcoin continues to grow further and returns to the level of $20 000, then the breakdown of support around $19 000 will prove to be false. In this case, the asset will exit the descending channel.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.