BTC analysis for July 12,.2021 - Bear flag pattern breakout and potential for drop towarsd $32.130

Technical Analysis:

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BTC has been trading sideways at the price of $33.600 and there is bear flag in creation.


Trading recommendation:
Watch for potential selling opportunities due to bear flag pattern with downside trend in the background.

Downside targets are set at the price of $32.130 and $30.00.

Stochastic is showing overbought condition and fresh bear cross, which is another sign and confirmation for the downside rotation.

Key resistance is set at the price of $35.000.




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Petar Jacimovic
Analytical expert
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