BTC update for May 11,.2023 - Rejection of the key support

Technical analysis:

BTC/USD has been trading downside but I found rejection of the key support level at $27.000, which is good sign for the further upside rotation.

Due to the strong rejection of the key support at $27.000 and the strong upside cycle in the background, I see potential for the further rally.

Upside objectives are set at the price of $28.240 and $29.700

MACD oscillator is showing bullish divergence, which is good sign for the further rally...

Key support is set at the price of $27.000