FX.co ★ BTC update for April 27,.2022 - Breakout of bear flag pattern

Technical analysis:

BTC has been trading upside today but in very well defined upside tight channel. I see potential for the downside continuation..

Trading recommendation:

Due to the downside breakout of the mini upside channel, I see potential for the downside continuation.

Watch for potential selling opportunities the intraday rallies with the downside objectives at $37.815 and $36.430.

Stochastic oscillator is showing bear divergences, which is important sign that buying power is decreasing.

Resistance is set at $40.710