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Bitcoin traders pinpoint key levels to watch as BTC price tests key trendlines

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Bitcoin (BTC) is pressuring newly-won support levels this week as geopolitical uncertainty raises the stakes for risk assets.After an impressive monthly close, momentum appears to be waning for Bitcoin's latest gains, data from Cointelegraph Markets Pro and TradingView shows, and stock markets are not helping the bulls.Volatility was cool as August began, but angst over a potential showdown between the United States and China over House Speaker Nancy Pelosi's visit to Taiwan is already showing in Asian trading on Aug.

2.Amid talk of a "bear market rally" being all that can describe the current setup, Cointelegraph takes a look at the crucial support and resistance levels currently facing the market on short timeframes.Analyzing order book data on Binance, the largest exchange globally by volume, pockets of buy and sell interest stand out immediately.At present, BTC/USD is eating through a band of bids just below $23,000.

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