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

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

*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 InstaForex
© 2007-2022
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