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  • Writer's pictureCryptofool

Technically speaking: Bitcoin (BTC)

Updated: Aug 8, 2022

After a sharp sell off, BTC price rebounded , slightly. However , it looks like it started to lose steam . Solid break above 38K would indicate a continuation of last week's recovery.

If Bitcoin price breaks above 38K , it's safe to assume that it will reach lower 40’s. If it breaks below 33K , most likely, will retest the previous low.

Heading into another week, I wouldn't expect any reversals, The daily chart is still in a down trend. There are no solid indications of a bottom. We may see a short rally towards 40K but it won’t last.

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