Technical analysis:
BTC/USD has been trading downside as I expected. The price did breakout of the bear flag pattern in the background, which is good sign for the further downside movement.
I see potential for the further drop towards lower references.
Downside structural objectives are set at $21.500, 20.750 and $19.500
Stochastic and MACD oscillators are showing downside reading with no evidence for the change in trend behavior.
Key resistance is set at the price of $22.550
Relevance up to 08:00 2023-03-09 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
