FX.co - BTC update for February 21,.2023 - Potential for the downside rotation

2023-02-21T09:00:13

Relevance until2023-02-22

Technical analysis:

BTC update for February 21,.2023 - Potential for the downside rotation

BTC/USD has been trading downside this morning and I found rejection of the key resistance at $25.000.

Trading recommendation:

Due to the strong resistance zone and rejection this morning, I see potential for the further downside movement.

Downside objectives are set at $24.000 and $23.400

MACD oscillator is showing bear momentum, which is another sign that sellers are in control.

Key resistance is set at the price of $25.000

*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 21,.2023 - Potential for the downside rotation