BTC update for July 26,.2023 – Bear flag pattern in creation and potential for the further drop
July 26, 2023 12:26 pm
Technical analysis:
BTC/USD has been trading sideways today but I found the breakout of the consolidation in the background and potential for the end of the upside correction.
Due to the breakout of the consolidation in the background and weak reaction from buyers after the strong supply, I see potential for the further drop.
Downside objective is set at the price of $28.260
Stochastic oscillator is showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $29.600
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading
sideways
today but I found the breakout of the consolidation in the background
and potential for the end of the upside correction.
Due
to the breakout of the consolidation in the background and weak
reaction from buyers after the strong supply, I see potential for the
further drop.
Downside
objective
is set at the price of $28.260
Stochastic
oscillator is showing fresh downside cross, which is another good
sign for the further downside movement.
Key
resistance is set at the price of $29.600
The material has been provided by InstaForex Company – www.instaforex.com
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