FX.co ★ BTC update for May 26,.2022 - Potential for the downside continuation

Technical analysis:

BTC has been trading downside as expected and there is potential for the major breakout of the key multi day flag. Selling opportunities are preferable due to strong downside cycle in the background.

Trading recommendation:

Due to the strong downside cycle potential continuation al pattern, I see potential for fuhrer drop on BTC.

Watch for potential selling opportunities on the intraday rallies with the downside objectives at $25.700 and $20.00.

MACD oscillator is showing downside reading, which is good sign that sellers are in control.

Stochastic oscillator is showing fresh bear cross, which is another sign for further downside movement.

Key resistance is set at the price of $31.300