BTC update for May 29,.2023 – Breakout of the trading range to the upside
May 29, 2023 8:26 am
Technical analysis:
BTC/USD has been trading upside as I expected and I found the breakout of the well defined sideways range, which is good sign for the higher prices.
Due to the breakout of the well defined range and the upside trend on the mid and long term cycles, I see potetnial for the higher process after the downside correction.
Upside objectives are set at the price of $29.145 and $29.870
Stochastic oscillator is showing oversold condition and fresh bull cross, which is another sign for the upside movement.
Key support cluster is set at the price of $25.900
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading upside
as I expected and I found the breakout of the well defined sideways
range, which is good sign for the higher prices.
Due
to the breakout of the well defined range and the upside trend on the
mid and long term cycles, I see potetnial for the higher process
after the downside correction.
Upside
objectives are set at the price of $29.145 and $29.870
Stochastic
oscillator
is showing oversold condition and fresh bull cross, which is another sign for the upside
movement.
Key
support
cluster is set at the price of $25.900
The material has been provided by InstaForex Company – www.instaforex.com
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