FX.co ★ BTC update for May 15,.2023 - Fake breakout of the support and potential for the rally

Technical analysis:

BTC/USD has been trading upside today and I found fake breakout of the support zone at $26.700, which is very good sign for the further upside movement.

Strong upside cycle in the background and fake breakout of the support are sign for the potential higher prices on BTC.

Upside objective is set at the price of $30.000

MACD oscillator is showing decreasing of the downside movement, which is good sign for the further rally.

Key support is set at the price of $26.000