FX.co - BTC update for September 28,.2022 -Breakout of the channel and potential for bigger drop

2022-09-28T06:50:11

Relevance until2022-09-29

Technical analysis:

BTC update for September 28,.2022 -Breakout of the channel and potential for bigger drop

BTC has been trading downside in the background and I found breakout of the rising channel, which is good sign that sellers took control over buyers.

Trading recommendation:

Due to the strong downside pressure in the background and the breakout of the rising trend-line, I see potential for further drop.

Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $18.200 and $17.770.

MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.

Resistance is set at the price of $20.300

*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 28,.2022 -Breakout of the channel and potential for bigger drop