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BTC has been trading downside as I expected and the price has reached downside objective at $17.000 but there is potential for further drop.
Due to the strong downside momentum and breakout of the key support, I see potential for further drop.
Watch for selling opportunities on the rallies with the downside objective at the price of $14.000.
MACD oscillator is showing strong downside momentum, which is sign that sellers are in control.
Key resistance is set at the price of $17.225
Relevance up to 08:00 2022-11-11 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.
