Relevance up to 13:00 2022-07-16 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 sideways at the price of $21.000 and I see potential for the breakout in the next period. Trading recommendation: Due to the sideways regime in last 4 weeks, I see potential for the breakout mode. In case of the upside breakout of the resistance at $22.350, watch for buying opportunities on the intraday dips with the upside objective at $27.000 In case of the downside breakout of the support at $17.690, watch for selling opportunities with the downside objective at the price of $12.775
Read more: https://www.instaforex.eu/forex_analysis/284698
