Bitcoin Is Showing A Is Good Sign For The Potential Downside Rotation
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Technical analysis:
BTC/USD has been trading upside on Friday and I see that key Fibonacci resistance Agreement zone at $22.850 held this morning, which is good sign for the potential downside rotation.
Due to the strong bearish trend on longer frames and test-reject of the key Fibonacci resistance zone, I see potential for the further downside movement.
Downside objective is set at $19.600
Stochastic and MACD oscillators are extreme bull reading and fresh bear cross, which is good sign for the downside movement.
Key resistance is set at $22.850
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