FX.co ★ BTC analysis for February 02,.2022 - Strong downside momentum and potential for bigger drop

Technical analysis:

BTC/Usd has been trading downside today and there is breakout of the balance in the background, which is sign for the downside rotation and potential tesst of support references.

Trading recommendation:

Due to the downside momentum today and rejection of the pivot resistance at $39,000, I see potential for the bigger downside movement in the next period.

Watch for selling opportunities on the rallies with the downside objectives at $33,175 and $30,000.

Key resistance is set at the price of $40,00