FX.co - BTC update for September 20,.2022 - Test of the key resistance at the price of $19.500

2022-09-20T06:44:10

Relevance until2022-09-21

Technical analysis:

BTC update for September 20,.2022 - Test of the key resistance at the price of $19.500

BTC/USD has been trading upside but the strong resistance level at $19.500 is on the test. Potential downside rotation is possible.

Trading recommendation:

Due to the strong downside momentum in the background and test of key resistance, I see potential for the downside movement.

Watch for the potential selling opportunities with the downside objectives at the price of $18.413 and $17.700.

Stochastic oscillator is showing fresh downside cross from the overbought zone, which is good sign for further downside movement.

Key resistance is set at the price of $19.500

*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 20,.2022 - Test of the key resistance at the price of $19.500