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FX.co ★ BTC update for March 16,.2023 - Extreme bullish condiiton, potential for the drop

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Crypto Analysis:::2023-03-16T08:32:33

BTC update for March 16,.2023 - Extreme bullish condiiton, potential for the drop

Technical analysis:

BTC update for March 16,.2023 - Extreme bullish condiiton, potential for the drop

BTC/USD has been trading sideways at the price of $24.680 and I see potential for the downside movement due to the breakout of the mini channel.

Due to the extreme bull condition and the downside breakout on MACD I see potential for the downside rotation.

Downside objectives-ares set at the price of $22.650 and $22.300

Stochastic oscillator is showing fresh bull cross but the MACD is still in the downside regime.

Key resistance is set at the price of $26.150

Analyst InstaForex
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