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FX.co ★ BTC update for May 11,.2023 - Rejection of the key support

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Crypto Analysis:::2023-05-11T06:35:40

BTC update for May 11,.2023 - Rejection of the key support

Technical analysis:

BTC update for May 11,.2023 - Rejection of the key support

BTC/USD has been trading downside but I found rejection of the key support level at $27.000, which is good sign for the further upside rotation.

Due to the strong rejection of the key support at $27.000 and the strong upside cycle in the background, I see potential for the further rally.

Upside objectives are set at the price of $28.240 and $29.700

MACD oscillator is showing bullish divergence, which is good sign for the further rally...

Key support is set at the price of $27.000

Analyst InstaForex
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