FX.co ★ BTC update for March 03,.2023 - First downside objective reached, potential for the downside continuation

Technical analysis:

BTC/USD has been trading downside as I expected yesterday. The price has reached first downside objective Fibonacci Expansion 61/% at the price of $22.500.

Due to the strong downside momentum, I still see potential for the further downside movement after the uspide correction.

Next downside objective is set at the price of $21.550

Stochastic and MACD oscillators are still showing downside reading, which is good sign for the further downside movement.

Key resistance is set at the price of $23.000