BTC update for May 12,.2023 – Downside breakout of the defined trading range
May 12, 2023 8:25 am
Technical analysis:
BTC/USD has been trading downside and I found breakout of the multi week trading range, which is sign that sellers are in control.
Due to the breakout of the multi week trading range and no signs for the reversal, I see potential for the further downside movement towards lower reference.
Downside objective is set at the price of $24.580
MACD oscillator is showing fresh new downside reading, which is good sign for the further drop.
Resistance is set at the price of $28.000
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading downside
and
I found breakout of the multi week trading range, which is sign that
sellers are in control.
Due
to the breakout of the multi week trading range and no signs for the
reversal, I see potential for the further downside movement towards
lower reference.
Downside objective is set at the price of $24.580
MACD
oscillator is showing fresh
new downside reading, which is good sign for the further drop.
Resistance
is set at the price of $28.000
The material has been provided by InstaForex Company – www.instaforex.com
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