FX.co ★ BTC update for October 05,.2022 - Key pivot resistance at the price of $20.500 on the test

Technical analysis:

BTC/USD is on the key resistance level at the price of $20.500 and it will be very important to watch the price action around this key pivot to confirm further direction.

Trading recommendation:

In case of the upside breakout of $20.500, watch for buying opportunities on the intraday dips with the upside objective at $22.395

In case of the rejection of the key resistance at $20.500, watch for selling opportunities on the rallies with the downside objective at $19.555