FX.co ★ BTC update for May 02,.2023 - Upside breakout in the play

Technical analysis:

BTC/USD has been trading sideways this morning at the price of $27.975 and I see potetnial for the breakout play.

Due to the big contraction this morning and the upside cycle in the background, I see potential for the higher prices.

In case of the breakout of the $28.120, I see further rally towards $28.650.

MACD oscillator is showing decreasing on the downside momentum, which is another good sign for the rally.

Swing low potential support set at the price of $27.660