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FX.co ★ BTC update for June 27,.2022 - Potential for the drop due to broken rising wedge

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Crypto Analysis:::2022-06-27T11:34:56

BTC update for June 27,.2022 - Potential for the drop due to broken rising wedge

Technical analysis:

BTC update for June 27,.2022 - Potential for the drop due to broken rising wedge

BTC has been trading upside in the background but I see potential for the downside rotation.

Trading recommendation:

Due to the broken rising wedge pattern in the background and overbought condition, I see potential for the further drop.

Watch for potential selling opportunities with the downside objectives at $20.900 and $20.000.

Stochastic oscillator is showing fresh bear cross and overbought condition, which is sign for the downside rotation.

Key resistance is set at the price of $21.850

Analyst InstaForex
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