BTC analysis for October 21,.2021 - Strong downside pressure and potential for breakout of upside channel

Technical Analysis:

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BTC has been trading downside and it is creation of the second downside leg.


Trading recommendation:
My advice is to watch for selling opportunities due to strong supply and potential for the breakout of the upside channel.

Downside targets are set at the price of $61,500 and $59,000

Stochastic oscillator is showing fresh bear cross and potential for the downside continuation.





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Petar Jacimovic
Analytical expert of InstaForex
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