FX.co ★ BTC update for June 15,.2023 - Breakout of the key support cluster

Technical analysis:

BTC/USD has been trading downside today and I found breakout of the key support cluster at the price of $25.500, which is strong sign that sellers are in control.

Due to the strong downside momentum and the breakout of the support cluster in the background, I see potential for the further drop towards upside references.

Downside objective is set at the price of $20.400

Stochastic oscillator is showing downside reading and increase in the momentum, which is good sign for the further downside movement.

Resistance is set at the price of $26.150