BTC analysis for May 12,.2021 - Broken rising wedge and potential for the downside continuation towards $53.180

Technical analysis:

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BTC has been trading sideways today at the price of $57.000. I still see potential for the downside movement towards $53.180.

Watch for potential selling opportunities on the rallies with the downside target at $53.180.

Stochastic is showing fresh bear cross, which is sign for the further downside continuation.

Main pattern in the background is broken rising wedge....




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Petar Jacimovic
Analytical expert
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