FX.co ★ BTC update for April 01,.2022 - Potential for furthher drop

Technical analysis:

BTC has been trading downside in the background and I see potential for the downside continuation.

Trading recommendation:

Due to the breakout of the rising channel in the background and strong supply, I see potential for the downside continuation.

Watch for potential selling opportunities on the rallies with the downside objectives at the price of$43.240 and $40.600.

MACD is showing downside reading and the Stochastic is showing premature bull cross, which is sign that sellers are still in control.

Key resistance is set at the price of $48.200