FX.co - BTC update for November 28,.2022 - Potential for further drop

2022-11-28T07:58:57

Relevance until2022-11-29

Technical analysis:

BTC update for November 28,.2022 - Potential for further drop

BTC/USD has been trading downside this morning and I found breakout of the key support at the price of $16.320.

Trading recommendation:

Due to the breakout of the key support in the background, I see potential for the downside movement.

Watch for the potential selling opportunities on the rallies with the downside objectives at $16.000 and $15.275.

MACD oscillator is showing downside reading, which is sign that sellers are in control.

Key resistance is set at the price of $16.380

*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 November 28,.2022 - Potential for further drop