Technical analysis:
BTC/USD has been trading downside and I found the breakout of the multi day consolidation and first target reached at $19.000. I still see further downside movement.
Trading recommendation:
Due to the breakout of the multi day consolidation in the background and no big signs for the reversal, I see further downside movement.
Watch for the selling opportunities on the rallies with the next downside objectives at the price of $17.700 and $14.000.
MACD oscillator is showing fresh downside money flow, which is sign that sellers are in control.
Key resistance is set at the price of $20.500
Relevance up to 09:00 2022-09-08 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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