13.10.202209:33 Forex Analysis & Reviews: BTC update for October 13,.2022 - Breakout of the rising channel and potential for further drop

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Technical analysis:

BTC/USD has been trading downside as I expected and the price is getting closer to the downside objectives.

Trading recommendation:

Due to the strong downside pressure in the background and breakout of the rising channel, I see potential for further drop.

Watch for the potential selling opportunities on the rallies with the downside objectives at the price of $18.870 and $18.520.

Stochastic oscillator is showing fresh downside cross, which is good sign for further downside movement.

Key resistance is set at the price of $19.200

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