FX.co ★ BTC update for June 29,.2022 - First donwside objective has been reached, potential for further drop

Technical analysis:

BTC/USD has been trading downside as I expected. The price reached my first objective at the price of $20.000. Anyway, I still expect further downside movement.

Trading Recommendation:

Due to the strong supply in the background and bearish trend, I see potential for further drop.

Watch for potential selling opportunities on the intraday rallies wit the next objective at the price of $18.000.

MACD oscillator is showing bearish reading and increasing in momentum.

Key resistance is set at the price of $21.800.