While the risk-off mode and the seller’s course continue in the global markets, Bitcoin is moving in the 20.000 band by the close of August.
19.500 support is on the upside and 22.000 level is the selling zone.
Rising since January 2019 on the monthly chart white We get support from our trend line. This trend needs to be maintained.
The chart we followed with the 50G MA is now below the 50-month MA level of 21,900.
A monthly close above 21,900 will reduce the selling pressure, but we expect a monthly close below the 50A MA, with both the selling trend in the markets and the weak volumes in the cryptocurrency market.
This will cause us to have a weak start to September.