BTC update for September 12, 2023 – Fake breakout of the support
September 12, 2023 8:25 am
Technical analysis:
BTC/USD has been trading downside this morning but I found fake breakout of the key support at the price of $25.700, which is strong sign for potetnial uspide rotation.
Due to the strong sideways condition and fake breakout of the support zone, I see potential for the further higher price towards upside reference.
Upside objective is set at the price of $26.320
MACD oscillator is showing weak momentum, which is very common in the heavy consolidation regime.
Key intraday resistance is set at the price of $25.300
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading downside this morning but I found fake breakout of the key support at the price of $25.700, which is strong sign for potetnial uspide rotation.
Due to the strong sideways condition and fake breakout of the support zone, I see potential for the further higher price towards upside reference.
Upside objective is set at the price of $26.320
MACD oscillator is showing weak momentum, which is very common in the heavy consolidation regime.
Key intraday resistance is set at the price of $25.300
The material has been provided by InstaForex Company – www.instaforex.com
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