Bitcoin Is Still Under Strong Pressure From The Downward Trend

Technical Outlook Of Bitcoin (BTC/USD) - 24.11.2022

Technical analysis:

Exchange Rates 28.09.2022 analysis

BTC has been trading downside in the background and I found breakout of the rising channel, which is good sign that sellers took control over buyers.

Trading recommendation:

Due to the strong downside pressure in the background and the breakout of the rising trend-line, I see potential for further drop.

Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $18.200 and $17.770.

MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.

Resistance is set at the price of $20.300

 

Relevance up to 08:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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Technical Outlook Of Bitcoin (BTC/USD) - 24.11.2022

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