FX.co - BTC update for September 15,.2022 - Triangle pattern in creaton, watch for the breakout

2022-09-15T07:38:57

Relevance until2022-09-16

Technical analysis:

BTC update for September 15,.2022 - Triangle pattern in creaton, watch for the breakout

BTC has been trading sideways in last few days at the price of $20.180. I see potential for the further drop.

Trading recommendation:

Due to the strong downside momentum in the background and triangle pattern in creation, I see potential for further drop.

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

Downside objectives are set at the price of $19.515 and $18.480.

MACD oscillator is showing downside reading, which is good sign that sellers are in control.

Key resistance is set at the price of $20.455

*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 15,.2022 - Triangle pattern in creaton, watch for the breakout