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Bitcoin Trend Analytics August 5

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BTC is still under the pressure of resistance and is yet to end consolidation. Breaking up the intraday resistance today and then holding up on $23775.37 for 4-8 hours could it end this consolidation; otherwise it’ll come to a lower area to consolidate.

The crucial support of the day is $22153.84.

The crucial range this week moves down between $24819.19-$21487.09. Breaking down $21487.09 will the market turn bearish.

The key support of the month is between $18155.27-$17565.40. Higher statistic support manifests bullish momentum and a lower level means cautious. This continuous downward diversion of the key support is the reason for the price drop these days.

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