FX.co ★ BTC analysis for February 17,.2022 - Potential for another downside wave

Technical analysis:

BTC has been trading downside morning and there is the breakout of the contraction in the background ,which is sign that BTC can trade lower in the next period.

Trading recommendation:

Due to the downside breakout of mini contraction in the background and potential for the second downside leg, I see potential for the downside opportunities.

Watch for selling opportunities on the intraday rallies with the downside objectives at $41,480, $40,430 and $39,125.

Key resistance is set at the price of $44,600