Technical analysis of BTC/USD 08/09/2024

Bitcoin has completed a downward correction.

The price found support at the level of 49,274, but could not consolidate below the area of 52,000 (61.8% Fibo), (MA200) and is currently in the area of 62,000.

The technical picture suggests the development of an upward movement with a target above the absolute high of 73,790.

The nearest support is the area of 50,000 (61.8% Fibo), (MA200).

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