FX.co - BTC update for July 20,.2022 - Breakout of the key pivot resistance and potential for further rally

2022-07-20T11:30:01

Relevance until2022-07-21

Technical analysis:

BTC update for July 20,.2022 - Breakout of the key pivot resistance and potential for further rally

BTCUSD has been trading upside today and I saw the breakout of major resistance level at $22.600, which is good sign for further rise.

Trading recommendation:

Due to the breakout of the key pivot resistance, I see potential for the upside movement.

Watch for potential buying opportunities on the intraday pullbacks with the potential upside objectives at $25.224 and $27.315.

Stochastic is showing another fresh upside breakout, which is good sign for further rise...

Key support is set at the price of $19.000

*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 July 20,.2022 - Breakout of the key pivot resistance and potential for further rally