FX.co - BTC update for February 24,.2023 - Breakout of the triangle to the downside

2023-02-24T09:44:57

Relevance until2023-02-25

Technical analysis:

BTC update for February 24,.2023 - Breakout of the triangle to the downside

BTC/USD has been trading downside as I expected and there is chance for the further downside continuation.

I found the breakout of the triangle pattern to the downside, which is good confirmation for the further downside movement.

Next downside structural objective is set at $23.000

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

Resistance level is set at the price of $24.000

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for February 24,.2023 - Breakout of the triangle to the downside