FX.co ★ BTC update for February 10,.2023 - Broken trading range to the downside

Technical analysis:

BTC/USD has been trading downside this morning and I found the breakout of the trading range in the background.

Trading recommendation:

Due to the breakout of trading range, I see potential for the further downside movement towards lower reference.

Watch for potential selling opportunities on the rallies with the downside objective at $20.400.

MACD oscillator is showing fresh downside momentum, which is another sign for the further downside movement.

Key short-term resistance is set at the price of $22.300