FX.co ★ BTC update for March 02,.2023 - Potential for the downside continuation

Technical analysis:

BTC/USD has been downside this morning and i found the rejection of the key Fibonacci cluster resistance at the price of $23.900.

Due to the rejection of the key Fibonacci resistance in the background and and fresh bear cross on the oscillators, I see potential for the further downside movement.

Downside structural objectives are set at $22.500 and $21.550

Both MACD and Stochastic oscillators are showing fresh bear cross, which is another sign for the further downside movement.

Key resistance zone is set at $23.900