FX.co ★ BTC update for June 09,.2023 - Tight consolidation and potential for the breakout

Technical analysis:

BTC/USDhas been trading sideways in the tight triangle range, which is sign that market is the short-term equilibrium and that there is potential for the breakout mode.

Due to the mid-long term upside trends and tight range condition, there is potential for the breakout to the upside.

In case of the upside breakout of the triangle, I see upside objectives at $27.373 and $28.465

MACD oscillator is showing neutral position.

Support cluster is set at the price of $25.700