FX.co ★ BTC update for September 13,.2022 - Channeling mode and potential for the breakout

Technical analysis:

BTC has been trading sideways today at the price of $22.400 but I see potential for further downside movement due to the channeling mode and slowdown in tempo.

Trading recommendation:

Due to the slowdown in the upside movement and chnaneling mode, I see potential for further downside movement.

Watch for the selling opportunities in case of the downside breakout of the channel.

Stochatic oscillator is showing fresh bear cross and bear divergence, which can be good sign for the further downside movement.

Key resistance is set at the price of $22.600