(8/10, Wed) btc returned to the box range after failing to break short-term high

Yesterday(8/9 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $23804, its lowest as $22861, its highest as $23915, its closing as $23134. After the start of Tuesday, Bitcoin continued its correction following the previous day's rise, followed by a weak decline and then rebounding, reaching a high below $24k at 05:30 and then falling sharply, reaching a low below $23k at 14:00 and ending -2.8% down.

If you look at the 4hr chart, Bitcoin, which broke through $24k the previous day, pushed back down to $23k and formed an H&S pattern, which looks bad as the trading volume increased. On the daily chart, a decline that did not complete the N-shaped uptrend pattern and dominated the upside of the previous day came out, which can be viewed negatively.

There is news in the crypto industry, it is said that Iran used cryptocurrency for an import order worth $10 million. Iran is a hostile country to the US and has been subjected to economic sanctions by US, and the fact that this country used cryptocurrencies for cross-border trade settlements can be seen as highly likely to be expanded by countries challenging the hegemony of the US dollar, such as China and Russia in the future.