Bitcoin Is Showing A Good Sign For Futher Downside Movement
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Technical analysis:
BTC/USD has been trading downside as I expected. I found the breakout of the well defined trading range in the background, which is good sign for futher downside movement.
Trading recommendation:
Due to the strong downside trend in the background and the breakout of the trading range, I see potential for the further drop.
Watch for the potential selling opportunities on the rallies with the downside objectives at $16.300 and $15.600.
MACD oscillator is showing downside reading, which is good sign for further bearish movement.
Key resistance is set at the price of $16.760
Relevance up to 09:00 2022-12-30 UTC+1 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.
