BTC update for June 28,.2023 – Fake breakout of the resistance zone and potential for the further drop
June 28, 2023 2:23 pm
Technical analysis:
BTC/USD has been trading upside this morning but I saw fake breakout of the resistance zone at the price of $30.600, which is good sign for the further downside movement.
Due to the fake breakout of the resistance zone in the background and supply in control, I see potential for the further downside movement. Breakout of the support at the price of $29.500 can confirm further drop towards lower reference.
Downside objective is set at the price of $26.880
MACD oscillator is showing strong downside momentum, which is good confirmation for the further drop.
Key resistance is set at the price of $30.600
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading
upside
this morning but I saw fake breakout of the resistance zone at the
price of $30.600, which is good sign for the further downside
movement.
Due
to the fake breakout of the resistance zone in the background and
supply in control, I see potential for the further downside movement.
Breakout of the support at the price of $29.500 can confirm further
drop towards lower reference.
Downside
objective is set at the price of $26.880
MACD
oscillator is showing strong downside momentum, which is good
confirmation for the further drop.
Key
resistance is set at the price of $30.600
The material has been provided by InstaForex Company – www.instaforex.com