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BTC/USD has been trading downside as I expected and the price is getting closer to the downside objectives.
Due to the strong downside pressure in the background and breakout of the rising channel, I see potential for further drop.
Watch for the potential selling opportunities on the rallies with the downside objectives at the price of $18.870 and $18.520.
Stochastic oscillator is showing fresh downside cross, which is good sign for further downside movement.
Key resistance is set at the price of $19.200
Relevance up to 09:00 2022-10-14 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.
