FX.co ★ BTC update for May 04,.2023 - Triangle pattern in creation

Technical analysis:

BTC/USD has been trading sideways at the price of $29.000 and I see potential for the breakout mode in the play.

Due to the defined triangle pattern, I see potential for the breakout.

In case of the breakout of resistance at $30.000, I see potential for the rally towards $31.000 and $34.000

In case of the breakout of the support at $27.000, I see potential for the downside movement towards $25.150 and $20.000