FX.co ★ BTC update for July 26,.2023 - Bear flag pattern in creation and potential for the further drop

Technical analysis:

BTC/USD has been trading sideways today but I found the breakout of the consolidation in the background and potential for the end of the upside correction.

Due to the breakout of the consolidation in the background and weak reaction from buyers after the strong supply, I see potential for the further drop.

Downside objective is set at the price of $28.260

Stochastic oscillator is showing fresh downside cross, which is another good sign for the further downside movement.

Key resistance is set at the price of $29.600