BTC analysis for September 16,.2021 - Bearish divergences in the background

Technical Analysis:

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BTC has been trading sideways at the price of $48,000. I see potential for the downside movement towards $47,400 and $46,830


Trading recommendation:
Watch for selling opportunities on the rallies with the downside targets at $47,400 and $46,830

Stochastic oscillator is showing bearish divergence in the background and potential for further downside.

Resistance is set at $48,700




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Petar Jacimovic
Analytical expert of InstaForex
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