FX.co - BTC update for June 20,.2023 -Potential for the downside movement

2023-06-20T07:43:39

Relevance until2023-06-21

Technical analysis:

BTC update for June 20,.2023 -Potential for the downside movement

BTC/USD has been trading in the sideways range at the price of$26.800 but I see potential for the downside movement towards the lower reference.

Due to the reversal pattern in the background and test of resistance at $27.000, I see potential for the downside movement towards lower reference.

Downside objective is set at the price of $26.300

MACD oscillator is showing downside reading, which is good sign for the further downside movement.

Key resistance is set at the price of $27.000

*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 June 20,.2023 -Potential for the downside movement