FX.co ★ BTC update for February 20,.2023 - Potential for the downside rotation

Technical analysis:

BTC/USD has been trading upside this morning but I found rejection fo the key resistance zone at $24.500, which is good sign for the further downside movement.

Due to the rejection of the key resistance zone and downside trend in the background, I see potential for the further drop.

Downside structural objectives is set at the price of $23.425

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

Key resistance zone is set at $24.500-$25.000