Technical analysis of BTC/USD 12/08/2021

Bitcoin on the (1D) chart broke through the support of 53,600 (38.2% Fib) but the price did not close below 49,000 (50% Fib). Quotes rebounded from 47 135 and are currently in the area of 50 600, breaking through the lower border of the ascending channel and (MA100). Having found support at (MA200). The next support is the area of the 47,000 level (61.8% Fib). If this support is broken, it will mean the transition of the downward correction to the downward trend. At the moment, the technical picture suggests a continuation of the uptrend.


Created by Joshua Hayn

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