FX.co ★ BTC update for November 21,.2022 - Breakout of the tight range and potential for further drop

Technical analysis:

BTC/USD has been trading downside today and I see potential for bigger drop towards downside references.

Trading recommendation:

Due to the strong downside breakout of the triangle pattern and strong downside trend in in the background, I see potential for further drop.

Watch for the potential selling opportunities on the rallies with the downside objectives at $13.500 and $12.180.

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

Key resistance is set at the price of $17.000