FX.co ★ BTC update for July 27,.2023 - Key resistance on the test

Technical analysis:

BTC/USD has been upside in last 24 hours but I see that key resistance at the price of $29.600 is on the test. I see potential for the further downside movement.

Due to the breakout of the consolidation in the background and the weak rally after the breakout, 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