FX.co ★ BTC update for September 23,.2022 - Potential downside rotation towards support

Technical analysis:

BTC has been trading upside in last 24 hours but I found strong resistance at the price of $19.510 and rejection of the price, which is good sign for further downside movement.

Trading recommendation:

Due to the rejection of the key resistance and strong downside trend, I see potential for the downside movement.

Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $18.386 and $18.157.

Stochastic oscillator is fresh bear cross from the bull extreme condition, which is another sign for the downside movement.

Key resistance is set at the price of $19.500 and $19.820