FX.co - BTC update for September 01,.2022 - Breakout of the triangle pattern to the downside

2022-09-01T08:42:31

Relevance until2022-09-02

Technical analysis:

BTC update for September 01,.2022 - Breakout of the triangle pattern to the downside

BTC/USD has been trading downside this morning, I saw the breakout of the triangle pattern to the downside.

Trading recommendation:

Due to the breakout of the triangle pattern in the background and the downside trend , I see further potential for the drop.

Watch for selling opportunities with the downside objective at the price of $19.575.

MACD oscillator is showing downside reading with no signs for the reversal.

Key resistance is set at the price of $20.500

*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 September 01,.2022 - Breakout of the triangle pattern to the downside