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BTC/USD has been trading downside this morning and I saw breakout of the rising wedge pattern and rejection of the key resistance at $20.400.
Due to the breakout of the rising wedge pattern, I see potential for further drop towards lower reference levels.
Watch for selling opportunities on the intraday rallies with the downside objectives at $20.130, $20.000 and $19.775.
Stochastic oscillator is showing bearish divergence in the background, which is another sign that buyers lost power.
Key resistance is set at the price of $20.445
Relevance up to 08:00 2022-10-07 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.
