FX.co ★ BTC update for February 17,.2023 - Potential for the downside rotation

Technical analysis:

BTC/USD has been trading downside as I expected and I found the rejection fo the resistance zone at $25.000.

Due to the strong rejection in the background and the overbought condition on oscillators, I see potential for the downside movement.

Downside structural objective is set at $21.550

Stochastic oscillator is showing overbought condition and fresh bear cross, which is sign that we might see downside rotation.

Key resistance zone is set at $25.000