Bitcoin Is Keeping A Downward Trend, The Selling Opportunities

Technical analysis:

BTC has been trading sideways in last few days at the price of $20.180. I see potential for the further drop.

Trading recommendation:

Due to the strong downside momentum in the background and triangle pattern in creation, I see potential for further drop.

Watch for the selling opportunities in case of the downside breakout of triangle.

Downside objectives are set at the price of $19.515 and $18.480.

MACD oscillator is showing downside reading, which is good sign that sellers are in control.

Key resistance is set at the price of $20.455

Relevance up to 09:00 2022-09-16 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.

Read more: https://www.instaforex.eu/forex_analysis/292912

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