FX.co ★ BTC update for October 27,.2022 - First upside objective has been reached, potential for further upside movement

Technical analysis:

BTC/USD has been trading upside as I expected and the price has reached the first upside objective at the price of $20.450. Anyway, I see potential for further upside movement due to the strong upside momentum.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the key multi-day resistance at the price of $20.473, I see potential for further big growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $22.450

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $20.470