BTC short term trade - Our bitcoin target is $22600

25 août 2022

Hello colleagues! 👋


The fight for the Bitcoin growth trend continues. Yesterday, August 24, at 19:00, buyers managed to update the local maximum and stop at $21,900. However, all the sellers were able to do after such brazen actions of the buyers was to adjust the price of BTC within 3 hours:



Something similar happened on the night of August 23-24,

Today is an important day for buyers to make the first push of Bitcoin to $22,650. This is the first mark from where sellers can continue the downtrend. However, in the current price range, the strength of sellers is clearly insufficient. Local attempts by sellers to slow down Bitcoin's growth could push BTCUSDT price into a local triangle:



The lower limit of this triangle is $21440. This level is essentially irrelevant in the global picture. However, this is now a local support point for buyers to confidently take control of $21600 (this mark is not yet under the control of buyers).

Therefore, in the short term, you can take a risk by buying BTC in the $21440 range with a target of $22,650. However, it is worth placing a short stop order (approximately $21,200).

More confident trades for growth should be taken after the first impulse of Bitcoin and a confident breakthrough of the $21,650 range.