BTC update for June 09,.2023 – Tight consolidation and potential for the breakout
June 9, 2023 8:25 am
Technical analysis:
BTC/USDhas been trading sideways in the tight triangle range, which is sign that market is the short-term equilibrium and that there is potential for the breakout mode.
Due to the mid-long term upside trends and tight range condition, there is potential for the breakout to the upside.
In case of the upside breakout of the triangle, I see upside objectives at $27.373 and $28.465
MACD oscillator is showing neutral position.
Support cluster is set at the price of $25.700
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USDhas
been trading
sideways
in the tight triangle range, which is sign that market is the
short-term equilibrium and that there is potential for the breakout
mode.
Due
to the mid-long term upside trends and tight range condition, there
is potential for the breakout to the upside.
In
case of the upside breakout of the triangle, I see upside objectives
at $27.373 and $28.465
MACD
oscillator is showing neutral position.
Support
cluster is set at the price of $25.700
The material has been provided by InstaForex Company – www.instaforex.com
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