empty
 
 
en
Support
Instant account opening
Trading Platform
Deposit/Withdraw

15.09.202310:36 Forex Analysis & Reviews: BTC update for September 15, 2023 - Potential for the further downside movement

Technical analysis:

Exchange Rates 15.09.2023 analysis

BTC/USD has been trading upside in the background but I found exhaustion channel pattern and potential for the downside movement.

Due to the lack of buying power and potential bear wedge formation, I see potential for the further drop towards lower reference.

Downside objective is set at the price of $25.850

RSI oscillator is showing bearish divergence in creation, which is sign that we might see further downside movement.

Key resistance is set at the price of $26.800

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

Petar Jacimovic,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaSpot
Download MetaTrader 4 and open your first trade
Can't speak right now?
Ask your question in the chat.