FX.co ★ BTC update for May 08,.2023 - Channeling mode intraday

Technical analysis:

BTC/USD has been trading sideways for few weeks and there is still no breakout but we might see the breakout in the next period.

In case of the breakout of the resistance at the price of $30.000, there is potential for the growth towards $32.000 and $34.000

In case of the downside breakout of the support, there is the chance for the lower prices and the downside objectives at the price of $24.000 and $20.000