Bitcoin: Can buyers continue the fightback?

2023년 8월 17일Today's focus: Bitcoin

Pattern – Continuation
Support – 27,500, 28,700
Resistance – 29,450, 30,170


• Shib launched their highly anticipated Shibarium.
• Coinbase received approval from the NFA to allow US retail clients to trade crypto futures.
• Bitcoin briefly broke below 28K on some exchanges on Thursday


Hi, and thanks for checking out today’s analysis. Today, our focus is on Bitcoin. We’ve seen a rather exciting day so far with news hitting the market that looks to have created a bit of long-needed volatility. After a fast decline that continued the last two days, Bitcoin continues to fight back from session lows.

Will we see buyers come back into the market? Do you agree that the current retracement looks a lot like the last? Could this be a sign that a new leg higher could be building? A lot will come down to if price respects the main uptrend and if it can find support before making any new deeper declines.

Have a great day and good trading.