FX.co ★ BTC update for June 13,.2022 - Downside breakout of the big base, potential for bigger drop

Technical analysis:

BTC has been trading downside and the breakout is on the way. Market already reached first downside target at the price of $27.200 and is heading towards second target.

Trading recommendation:

Due to the breakout of multi month consolidation and strong supply, I see potential for the downside continuation.

Watch for potential selling opportunities on the rallies with the next downside objective at $22.000.

MACD oscillator is showing new momentum downside, which is another sign of the weakness.

Resistance is set at the price of $28.500