Due To The Strong Downside Trend Bitcoin Has A Potential For The Bigger Drop| FXMAG.COM

Technical analysis:
Trading recommendation:

Technical analysis:

due to the strong downside trend bitcoin has a potential for the bigger drop grafika numer 1

BTC/USD has been trading downside as I expected. The price tested our first downside objective at the price of $18.550. I see potential for further drop.

Trading recommendation:

Due to the strong downside trend in the background and breakout of the support at $18.500, I see potential for the bigger drop.

Watch for the potential selling opportunities on the intraday rallies with the downside objective at $17.700.

MACD oscillator is showing fresh downside momentum,which is good sign for further downside movement.

Key resistance is set at the price of $20.200

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Relevance up to 08:00 2022-09-20 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.

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