FX.co ★ BTC update for May 29,.2023 - Breakout of the trading range to the upside

Technical analysis:

BTC/USD has been trading upside as I expected and I found the breakout of the well defined sideways range, which is good sign for the higher prices.

Due to the breakout of the well defined range and the upside trend on the mid and long term cycles, I see potetnial for the higher process after the downside correction.

Upside objectives are set at the price of $29.145 and $29.870

Stochastic oscillator is showing oversold condition and fresh bull cross, which is another sign for the upside movement.

Key support cluster is set at the price of $25.900