FX.co ★ BTC update for October 19,.2022 - Breakout of the mini triangle pattern to the downside

Technical analysis:

BTC has been trading downside this morning and I found the breakout of the tight triangle in the background, which is good sign for further downside movement.

Trading recommendation:

Due to the breakout of the triangle pattern I see potential for further drop towards downside references.

Watch for the potential selling opportunities with the downside objectives at $19.000 and $18.400.

Stochastic oscillator is showing fresh bear cross, which is strong sign that sellers are in control.

Key resistance is set at the price of $19.440