FX.co ★ BTC update for August 18,.2023 - First objectives has been reached, potential for the further drop

Technical analysis:

BTC/USD has been trading downside as I expected and the price reached first downside objective at $27.525. There is the chance for the further lower prices.

Due to the strong downside momentum on after the breakout, I see potential for the further drop towards next downside reference.

Downside objective is set at the price of $24.820

Resistance is set at the price of $28.760