FX.co - BTC update for February 15,.2023 - Potential for the further drop

2023-02-15T08:24:22

Relevance until2023-02-16

Technical analysis:

BTC update for February 15,.2023 - Potential for the further drop

BTC/USD has been trading upside but I found the strong resistance zone on the test at the price of $23.300

Trading recommendation:

Due to the breakout of the bigger trading range and re-test of the resistance zone, I see potential for the downside movement.

Watch for the potential selling opportunities with the downside objectives at $21.330 and $20.360

MACD oscillator is showing fresh downside reading, which is good sign that we can see downside continuation.

Key resistance zone is set at $23.300

*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 February 15,.2023 - Potential for the further drop