FX.co - BTC update for October 10,.2022 - Breakout of the triangle pattern

2022-10-10T08:54:38

Relevance until2022-10-11

Technical analysis:

BTC update for October 10,.2022 - Breakout of the triangle pattern

BTC/USD has been trading downside. There is potential for the bigger drop towards lower references.

Trading recommendation:

Due to the breakout of the well defined triangle pattern in the background, I see potential for further drop.

Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $18.950 and $18.600.

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

Key resistance is set at the price of $19.600

*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 October 10,.2022 - Breakout of the triangle pattern