FX.co - BTC update for April 26,.2022 - Breakout of the contraction to the downside

2022-04-26T11:20:14

Relevance until2022-04-27

Technical analysis:

BTC update for April 26,.2022 - Breakout of the contraction to the downside

BTC has been trading sideways at the price of $40.500 and I see the breakout to the downside.

Trading recommendation:

Due to the breakout of the tight consolidation in the background, I see potential for the downside movement.

Watch for potential selling opportunities on the rallies with the downside objectives at $39.500 and $38.280.

Stochastic oscillator is showing negative reading with no signs for the reversal.

Key resistance is set at the price of $40.770

*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 26,.2022 - Breakout of the contraction to the downside