FX.co - BTC update for June 14,.2022 - Strong downside pressure and potential for further drop

2022-06-14T12:10:03

Relevance until2022-06-15

Technical analysis:

BTC update for June 14,.2022 - Strong downside pressure and potential for further drop

BTC has been trading downside as I expected and there is potential for further drop due to lack of buying power and strong selling pressure.

Trading recommendation:

Due to strong selling power and downside trend, I expect further downside movement towards next reference points.

Watch for selling opportunities on the intraday rallies with next downside objectives at $20.000 and $13.500.

MACD oscillator is showing fresh momentum downside, which is good sign for further downside movement.

Key resistance is set at the price of $32.000

*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 June 14,.2022 - Strong downside pressure and potential for further drop