BTC analysis for October 07,.2021 - Buying climax and rounding top in the background

Technical Analysis:

Name: b-p-071021.jpg Views: 13 Size: 43.0 KB


BTC has been trading flat today at $54,000 but I see potential for the downside movement towards $52,000.


Trading recommendation:
Due to buying climax in the background with the rounding top formation after, I see potential for the downside movement.

Watch for selling opportunities on the rallies with the downside objective at the price of $52,000.

Stochastic is showing bull cross but with new momentum low on slow line.

Resistance is set at $55,500




Name: 44.png Views: 13 Size: 13.7 KB
Petar Jacimovic
Analytical expert of InstaForex
© 2007-2021