Technical analysis by FinancialMindd about Symbol BTC on 8/13/2023

Since June, Bitcoin has not been pampering us with its volatility. The bulls slowed down at the first resistance of a very strong supply zone of $31,580 - $35,900.It consists of 50% Fibonacci from the downtrend in March 2022 supported by the Price Action zone from May-June 2021. The upper band of this zone is 38.2 Fibonacci measured from the ATH in November 2021 supported by the Price Action from January-February 2022.The bulls will need a strong impulse to overcome this zone - it will also be a marker for me for the near future how to play the market on lower time frames.More about this in my next analyses, where I will take a closer look at this situation.