FX.co - BTC update for July 19,.2023 - Key support cluster on the test

2023-07-19T07:37:57

Relevance until2023-07-20

Technical analysis:

BTC update for July 19,.2023 - Key support cluster on the test

BTC/USD has been trading sideways at the price of $30.000 and I found testing of the key support cluster at the price of $29.700.

Two potential scenarios might be interesting according to current condition.

Rejection of the support cluster at $29.700 can be a good sign for the rally towards resistance top of the range at the price of $31.390

Breakout of the support cluster at $29.700 and hold below can be a good sign 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 19,.2023 - Key support cluster on the test