FX.co - BTC update for May 17,.2023 - Potential for the breakout mode due ot the contraction

2023-05-17T07:30:30

Relevance until2023-05-18

Technical analysis:

BTC update for May 17,.2023 - Potential for the breakout mode due ot the contraction

BTC/USD has been trading sideways at the price of $27.000 and I see potential for the breakout mode in the next period.

In case of the breakout of the resistance at the price of $27.300, potential upside objectives are set at the price of $27.660 and $28.300

In case of the breakout of support level at $27.000, downside objectives are set at $26.250 and $25.900

*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 May 17,.2023 - Potential for the breakout mode due ot the contraction