BTC analysis for June 03,.2021 - Watch for the breakout of the upside channel

Technical Analysis

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BTC has been trading upwards at the price of $38.750 but I still no strong momentum, which can be a first warning for the downside rotation.


Trading recommendation:
Due to overbought condition and very controlled rally, I expect further downside rotation.

The breakout of the upside channel will confirm downside movement towards $33.455 and $28.950.

Stochastic oscillator is showing overbought condition, which is another of the potential weakness...




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Petar Jacimovic
Analytical expert
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