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FX.co ★ BTC analysis for February 24,.2022 - Downside objective reached and potential for another drop towards $33.000

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Crypto Analysis:::2022-02-24T15:18:21

BTC analysis for February 24,.2022 - Downside objective reached and potential for another drop towards $33.000

Technical analysis:

BTC analysis for February 24,.2022 - Downside objective reached and potential for another drop towards $33.000

BTC has been trading downside as I expected. The price reached my downside objective at $35,600 but I still see potential for further downside.

Trading recommendation:

Due to strong downside momentum in the background I see potential for the downside continuation in the next period.

Watch for potential selling opportunities on the rallies using the intraday time-frame.

Next downside objective is set at the price of $33,000

Key resistance is set at the price of $36,400

Analyst InstaForex
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