FX.co ★ BTC update for April 13,.2022 - Consolidation and potential downside continuaiton

Technical analysis:

BTC has been trading sideways at the price of $39.815. Anyway, I see potential for the downside continuation towards next downside pivot points.

Trading recommendation:

Due to the strong downside cycle and contraction in lat 2 days, I see potential for the downside continuation.

Watch for potential selling opportunities with the downside objectives at the price of $37.610 and $34.600.

MACD oscillator is showing negative reading with no evidence for the reversal, which is sign for the downside pressure.

Resistance is set at the price of $42.000