FX.co ★ BTC analysis for February 18,.2022 - Downside contunation in the play

Technical analysis:

BTC/USD has been trading downside as I expected yesterday. The price reached first downside objective at $41,600 but I still see potential for further downside.

Trading recommendation:

Due to strong downside momentum and breakout of support in the background, I see potential for another drop on BTC.

My advice is to watch for selling opportunities on the intraday rallies and continuation al pattern with downside objectives at $39,000 and $36,650.

Second downside wave is still in development, which is another confirmation for further downside.

Resistance is set at $41,600