FX.co ★ BTC/USD update for May 18,.2023 - Rejection of the key support zone

Technical analysis:

BTC/USD has been trading upside yesterday and I found reversal bar to the upside and rejection of the key support, which is good sign for the further rally.

Due to the test and rejection fo the key support and the short and mid term upside trend, I see potential for the rally towards upside references.

Upside objective is set at the price of $29.700

Key support is set at the price of $26.500