FX.co ★ BTC analysis for February 25,.2022 - Strong rejection of the key pivot at $39.700

Technical analysis:

BTC.USD has been trading upside yesterday but the key resistance at the price of $39,700 held again, which is good sign for me that another downside wave is in the play.

Trading recommendation:

Due to the strong rejection of key resistance at $39,700, I see further downside movement.

Watch for selling opportunities on the intraday rallies and continuation al patterns with the downside objectives at $36,400, $34,500 and $33,000

Additionally, there is the the downside trend in the background, which is another confirmation for further downside movement.