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FX.co ★ BTC update for May 22,.2023 - Rejection fo the support this morning

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Crypto Analysis:::2023-05-22T07:24:53

BTC update for May 22,.2023 - Rejection fo the support this morning

Technical analysis:

BTC update for May 22,.2023 - Rejection fo the support this morning

BTC/USD has been trading upside this morning and I found rejection of the key support at the price of $26.500, which is good sign for the further rally.

Due to the fake breakout of the support in the background and strong demand this morning, I see potential for the further rally towards upside references.

Upside objectives are set at the price of $27.150 and $27.454

RSI oscillator is showing strong rejection of the oversold condition, which is another good sign for the further rally.

Key support is set at the price of $26.500

Analyst InstaForex
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