BTC update for June 30,.2022 - Breakout of the bearish flag pattern in the background

Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Relevance up to 10:00 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.

Technical analysis:

BTC/USD has been trading downside as I expected. There is potential for the bigger drop towards $18.000 and $10.000. Trading recommendation: Due to the breakout of the bear flag pattern in the background and strong downside momentum, I see potential for further drop. Watch for potential selling opportunities on the rallies with the downside objectives at $18.000 and $10.000.. MACD oscillator is showing new fresh downside momentum, which is good sign and confirmation for further drop. Short-term resistance is set at the price of $20.500



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Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

InstaForex Analysis

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