FX.co - BTC update for July 18,.2023 - Key support cluster on the test

2023-07-18T08:42:46

Relevance until2023-07-19

Technical analysis:

BTC update for July 18,.2023 - Key support cluster on the test

BTC/USD has been trading downside and the key support cluster at the price of $30.000 is on the test. I see 2 scenarios that can be in the play.

In case of the rejection of the support zone at $29.600, I see potential for the rally towards upper extreme of the trading range at $31.400

In case of the downside breakout of the support zone at $29.600, I see potential for the further drop towards $28.000

*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 July 18,.2023 - Key support cluster on the test