FX.co ★ Analysis of Gold for September 19,.2022 - Potential for the bigger drop towards $1.570

Technical analysis:

BTC/USD has been trading upside in the background but there is the rejection of the key resistance level at $1.680, which is sign that sellers are still in control.

Trading recommendation:

Due to the strong downside trend in the background and breakout of the key support at $1.680, I see further drop towards $1.570.

Watch for the potential selling opportunities on the intraday rallies with the downside objective at $1.571.

Stochastic oscillator is showing fresh downside cross,which is good sign for further downside movement.

Key resistance is set at the price of $1.680