FX.co ★ BTC update for July 20,.2023 - Rejection of the key support cluster

Technical analysis:

BTC/USD has been trading upside this morning and I found rejection of the key support at the price of $29.600.I see potential for the upside rotation towards resistance zone.

Due to the rejection fo the key support cluster and the breakout of the supply trend-line, I see potential for teh upside rotation towards resistance levels.

Upside objectives are set at the price of $30.935 and $31.500

MACD oscillator is showing fresh upside momentum, which is good indication for the further rally.

Key support cluster is set at the price of $29.600