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FX.co ★ BTC update for September 05,.2022 - Potential breakout of the multi day triangle pattern

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Crypto Analysis:::2022-09-05T12:22:05

BTC update for September 05,.2022 - Potential breakout of the multi day triangle pattern

Technical analysis:

BTC update for September 05,.2022 - Potential breakout of the multi day triangle pattern

BTC/USD has been trading downside this morning and I see potential for the brekaout of the well defined triangle pattern.

Trading recommendation:

Watch for the breakout of the triangle pattern to confirm further downside continuation.

Downside objectives are set at the price of $19.000 and $18.000

Stochastic is showing overbought condition and fresh bear cross, which is sign that we might see downside movement.

Key resistance is set at the price of $20.500

Analyst InstaForex
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