FX.co ★ BTC update for June 16,.2022

Technical analysis:

BTC/USD has been trading downside as I expected. Price reached our major target level at $20.000 and there is chance for further drop.

Trading recommendation:

Due to the strong downside momentum and bearish trend, watch for further drop towards next major level.

Watch for potential selling opportunities in case of the breakout of $20.000 level with the downside objective at $12.365.

Stochastic is showing overbought condition and potential for the downside rotation.

Key resistance is set at the price of $24.000