BTC analysis for February 10,.2021 - Broken symmetrical triangle and potential downside movement towards $43.425

Further Development

Name: b-p-100221.jpg Views: 39 Size: 77.9 KB

Analyzing the current trading chart of BTC, I found that there is the breakout of the symmetrical triangle on the 4H time-frame, which is sign that there is potential for furhter downside.

Watch for selling opportunities with the downside targets at $43,245 and $40,635.

Stochastic oscillator showing overbought condition and the bearish divergence, which is another sign for further downside movement.


Key Levels:

Resistance: $48,000

Support levels: 43,245 and $40,635.



Name: 44.png Views: 38 Size: 13.7 KB
Petar Jacimovic
Analytical expert
InstaForex Group © 2007-2021