North American Market Wrap – January 16: Rangebound Trading Amid Weekend Geopolitical Risk
Global Tensions, Commodities Rally, and Currency Pressures: Gold Hits Records, Dollar Weakens, Europe and Japan Under Strain
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UK Wage Growth Slows Sharply, Paving the Way for Rate Cuts
BTC/USD has been trading downside this morning, I saw the breakout of the triangle pattern to the downside.
Due to the breakout of the triangle pattern in the background and the downside trend , I see further potential for the drop.
Watch for selling opportunities with the downside objective at the price of $19.575.
MACD oscillator is showing downside reading with no signs for the reversal.
Key resistance is set at the price of $20.500
Read more: https://www.instaforex.eu/forex_analysis/290987
Relevance up to 10:00 2022-09-02 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.
