FX.co ★ BTC update for June 22,.2022 - Breakout of the rising channel

Technical analysis:

BTC/USD has been trading downside. I see the breakout of the rising channel in the background and potential for the downside movement.

Trading Recommendation:

Due to the breakout of the upside channel in the background and strong downside momentum, I see potential for further downside movement.

Watch for selling opportunities on the intraday rallies with the downside objective at $18.000.

Stochastic is showing extreme reading and potential for bear turn, which is another confirmation for the potential downside movement.

Key resistance is set at $21.700