FX.co - BTC update for July 27,.2022 - Potential for the breakout of the downside channel

2022-07-27T11:51:42

Relevance until2022-07-28

Technical analysis:

BTC update for July 27,.2022 - Potential for the breakout of the downside channel

BTC has been trading upside in the background and there is potential for the breakout of the downside channel.

Trading recommendation:

Due to the potential upside continuation of the growth in the background, I see potential for the rally.

Watch for potential buying opportunities on the pullbacks with the upside objective at the price of $24.000

Stochastic is showing overbought condition but with no evidence for the reversal.

Support is set at the price of $21.000

*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 27,.2022 - Potential for the breakout of the downside channel