FX.co - BTC update for September 28, 2023 - Potential for the further downside movement

2023-09-28T08:46:18

Relevance until2023-09-29

Technical analysis:

BTC update for September 28, 2023 - Potential for the further downside movement

BTC/USD has been trading sideways at the price $26.400 but I see potential for the further downside movement.

Due to the lower highs and lower lows plus divergence on the RSI, there is potential for the further downside movement towards lower references.

Downside objectives are set at the price of $25.400 and $24.900

RSI Oscillator is showing negative reversal, which is good sign for the further downside movement.

Resistance is set at the price of $26.700

*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 September 28, 2023 - Potential for the further downside movement