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22.09.202210:07 Forex Analysis & Reviews: BTC update for September 22,.2022 - Sellers in control, potential for further drop

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis:

Exchange Rates 22.09.2022 analysis

BTC/USD has been trading downside as I expected. The price has reached first downside objectives at the level of $18.400. Anyway, there is still chance for further downside movement.

Trading recommendation:

Due to the strong downside trend in the background, I see potential for further drop towards major support at $17.700.

Watch for the potential selling opportunities on the upside extremes and intraday rallies.

Downside objectives are set at the price of $17.700 and $14.000

MACD oscillator is showing downside reading, which is sign that sellers are in control.

Key resistance is set at the price of $19.550

Petar Jacimovic
Analytical expert of InstaForex
© 2007-2022

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