Technical analysis:
BTC/USD has been trading sideways this morning and I see potential for the downside rotation due to the strong resistance in the background.
Trading recommendation:
Due to the breakout of the trading range in the background and potential for downside continuation, I see further selling opportunities.
Watch for the selling opportunities on the rallies with the downside objective at the price of $18.600.
MACD oscillator is showing upside reading but with no big upside momentum, which can be a sign for the downside rotation. Key resistance is set at the price of $19.600
Read more: https://www.instaforex.eu/forex_analysis/291987
Relevance up to 13:00 2022-09-09 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.