FX.co - BTC update for April 25,.2022 - Breakout of bear flag in the background

25 April 2022 at 12:39PM (UTC+0)

Relevance until26 April 2022 at 12:39PM (UTC+0)

Technical analysis:

BTC update for April 25,.2022 - Breakout of bear flag in the background

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

Trading recommendation:

Due to the breakout of the bear flag in the background, I see potential for the downside continuation of the short-term trend.

Watch for potential selling opportunities the intraday rallies with the downside objectives at $37.450 and $34.500.

MACD oscillator is showing strong downside momentum, which is another confirmation that sellers are in control.

Key resistance is set at the price of $40.000

*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 update for April 25,.2022 - Breakout of bear flag in the background