BTC update for May 19,.2023 – ABC structure completion in the play
May 19, 2023 8:22 am
Technical analysis:
BTC/USD has been trading downside yesterday but I found potential completion of the ABC structure, which is good sign for the rally.
Due to the fake breakout of key support few days ago and the potential completion of the ABC downside structure, I see potential for the further growth.
Upside objectives are set at the price of $27.600 and $28.300
MACD oscillator is showing decreasing in the downside momentum, which is good sign for the rally.
Support level is set at the price of $26.400
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading downside
yesterday but I found potential
completion of the ABC structure, which is good sign for the rally.
Due
to the fake breakout of key support few days ago and the potential
completion of the ABC downside structure, I see potential for the
further growth.
Upside
objectives are set at the price of $27.600
and $28.300
MACD
oscillator is showing decreasing
in the downside momentum, which is good sign for the rally.
Support
level is set at the price of $26.400
The material has been provided by InstaForex Company – www.instaforex.com
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