BTC update for July 19,.2023 - Key support cluster on the test

Technical analysis:

BTC/USD has been trading sideways at the price of $30.000 and I found testing of the key support cluster at the price of $29.700.

Two potential scenarios might be interesting according to current condition.

Rejection of the support cluster at $29.700 can be a good sign for the rally towards resistance top of the range at the price of $31.390

Breakout of the support cluster at $29.700 and hold below can be a good sign for the further drop towards $28.000