FX.co - BTC analysis for February 24,.2022 - Downside objective reached and potential for another drop towards $33.000

2022-02-24T15:18:21

Relevance until2022-02-25

Technical analysis:

BTC analysis for February 24,.2022 - Downside objective reached and potential for another drop towards $33.000

BTC has been trading downside as I expected. The price reached my downside objective at $35,600 but I still see potential for further downside.

Trading recommendation:

Due to strong downside momentum in the background I see potential for the downside continuation in the next period.

Watch for potential selling opportunities on the rallies using the intraday time-frame.

Next downside objective is set at the price of $33,000

Key resistance is set at the price of $36,400

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for February 24,.2022 - Downside objective reached and potential for another drop towards $33.000