BTC analysis for September 01,.2021 - Watch for the breakout of the upside channel

Technical Analysis:

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BTC has been trading upside in last few hours and I see potential for the downside rotation.


Trading recommendation:
Due to tight upside channel and slowdown in the tempo, I see potential for the downside movement.

Watch for selling opportunities if you see the breakout of channel with the downside target at $46,700.

BTC is on the larger downside channel mode.

Stochastic oscillator is showing overbought condition and potential for the downside movement.



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Petar Jacimovic
Analytical expert of InstaForex
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