BTC update for July 25,.2023 – Breakout of the trading range with weak reaction from buyers
July 25, 2023 2:22 pm
Technical analysis:
BTC/USD has been trading downside and I found the breakout of the key support cluster at $29.600, which is good sign for the further downside movement.
Due ot the breakout of the multi day support cluster and the weak reaction from buyers, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $28.330 and $27.350
Stochastic oscillator is showing bear reading and fresh new flip to the downside, which is good confirmation for the further downside movement.
Resistance zone is set at the price of $30.200
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has
been trading downside
and I found the breakout of the key support cluster at $29.600, which
is good sign for the further downside movement.
Due
ot the breakout of the multi day support cluster and the weak
reaction from buyers, I see potential for the further drop towards lower references.
Downside
objectives
are set at the price of $28.330 and $27.350
Stochastic
oscillator is showing bear reading and fresh new flip to the
downside, which is good confirmation for the further downside
movement.
Resistance zone is set at the price of $30.200
The material has been provided by InstaForex Company – www.instaforex.com
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