BTC analysis for June 02, 2021 - Watch for the breakout of the upside channel to confirm further downside movement

Technical analysis:

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BTC has been upwards. The price tested the elvel of $37.630 but I see potential for the downside swing due to overbought condition.


Trading recommendation:
Watch for potential selling opportunities and potential downside rotation towards $35.675. Downside target is set at the price of $1.854

Stochastic is showing overbought condition, which is sign that buying looks risky.




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Petar Jacimovic
Analytical expert
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