FX.co - BTC update for July 28,.2023 - Key resistance on the test

2023-07-28T15:22:42

Relevance until2023-07-29

Technical analysis:

BTC update for July 28,.2023 - Key resistance on the test

BTC/USD has been trading sideways at the price of $24.500 but I see potential for the downside continuation.

Due to the breakout of the multi day consolidation in the background and weak rally today, I see potential for the further downside continuation.

Downside objectives-are set at the price of $28.935 and $28.240

MACD oscillator is showing weak buying power and bearish divergence, which is another sign for the further downside continuation.

Resistance is set at the price of $29.600

*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 28,.2023 - Key resistance on the test