FX.co - BTC update for April 07,.2023 - Rejection of the key resistance

2023-04-07T06:54:22

Relevance until2023-04-08

Technical analysis:

BTC update for April 07,.2023 - Rejection of the key resistance

BTC/USD has been trading sideways at the price of $27.950. I see potential for the downside rotation towards lower end of the trading range.

Due to the rejection of the key resistance in the background, I see potential for the further downside movement towards lower reference.

Downside objectives are set at the price of $27.275 and $26.640

MACD oscillator is showing bearish reading, which is another good confirmation for the further downside.

Key resistance is set at the price of $28.800

*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 April 07,.2023 - Rejection of the key resistance