Technical analysis:
BTC/USD has been trading sideways at the price of $26.800 but I see potential for the further downside movement towards the lower reference.
Due to the breakout of the descending triangle pattern to the downside, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $26.000
RSI oscillator is showing negative trend and reading below 50, which is good sign for the further downside movement.
Resistance level is set at the price of $27.400
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading sideways at the price of $26.800 but I see potential for the further downside movement towards the lower reference.
Due to the breakout of the descending triangle pattern to the downside, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $26.000
RSI oscillator is showing negative trend and reading below 50, which is good sign for the further downside movement.
Resistance level is set at the price of $27.400
The material has been provided by InstaForex Company – www.instaforex.com
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