FX.co ★ BTC update for September 21,.2022 - Sellers in control, potential for further drop

Technical analysis:

BTC/USD has been trading downside as like I expected. The price is heading my first downside objective at the price of $18.413.

Trading recommendation:

Due to the strong downside pressure in the background and rejection of the key resistance at the price of $19.600, I see potential for further drop.

Watch for the potential selling opportunities on the rallies with the downside objectives at the price of $18.400 and $17.700.

MACD oscillator is showing downside momentum, which is good sign for further downside movement.

Key resistance is set at the price of $19.500