Bitcoin Edges Down

٢ أغسطس ٢٠٢٢

Bitcoin has retraced further from 23.9K. The momentum we saw after the FOMC from last week has faded for now. We are just above our level at 22.4K. If we can pivot, we should see one soon, with 22.4K to provide support. If so, we could make another run for 23.9K. If not, we could collapse through the vacuum zone back to 20.7K. If that level does not hold, we could return to the previous value area between 18.6K and 20.7K.