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09.03.202309:26 Forex Analysis & Reviews: BTC update for March 09,.2023 - First downside objective has been reached, potential for the further drop

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Technical analysis:

BTC/USD has been trading downside as I expected, the price has reached the first downside objective at $21.500.

Due to the strong downside pressure and the breakout of the flag pattern, I see potential for the downside continuation.

Next downside objective is set at the price of $20.700

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

Key short-term resistance is set at the price of $22.200

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