FX.co ★ BTC update for September 07,.2022 - Breakout of the trading range to the downside

Technical analysis:

BTC/USD has been trading downside and I found the breakout of the multi day consolidation and first target reached at $19.000. I still see further downside movement.

Trading recommendation:

Due to the breakout of the multi day consolidation in the background and no big signs for the reversal, I see further downside movement.

Watch for the selling opportunities on the rallies with the next downside objectives at the price of $17.700 and $14.000.

MACD oscillator is showing fresh downside money flow, which is sign that sellers are in control.

Key resistance is set at the price of $20.500