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.

Read more:

Technical Outlook Of Bitcoin (BTC/USD) - 24.11.2022

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker regulated by CySec with license number 266/15.


Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). Consequently, InstaForex has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. Besides, the broker ensures the Negative balance protection. So, the reliability and trustworthiness of this broker raise no doubts.


Instaforex offers access to more than 2,500 instruments (Stocks CFDs, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms, trading accounts in EUR, USD, PLN, CZK, GBP.


More information at:

Follow InstaForex on:

Twitter | LinkedIn