FX.co ★ BTC update for May 20,.2022 -Sideways market, watch for breakout

Technical analysis:

BTC has been trading sideways at the price of $30.200 in the well defined trading range. Watch for potential breakout to confirm further direction.

Trading recommendation:

If the price breaks the pivot low at $28.600, there is potential for bigger drop towards $25.540. Under this condition selling will be preferable.

If the price breaks the pivot high at $32.500, there is potential for rally towards $34.200. Buying opportunities will be preferable under this condition.