FX.co ★ BTC update for February 22,.2023 - First structural downside objective has been reached, potential for further downside movement

Technical analysis:

BTC/USD has been trading downside as I expected and the price has reached first downside structural objective at $24.000. Anyway, I see potential for the further downside movement.

Due to the strong downside momentum and the breakout of the rising trend-line, I see potential for the further downside movement

Downside objective is set at the price of $23.400

MACD oscillator is showing downside reading, which is another good sign for the further downside movement.

Key resistance zone is set at the price of $25.000