BTC analysis for May 28,.2020 - Rejection of the resistance at the price of $9.250. Downside movement expected towards the level of $8.630

NEWS:
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BoE Saunders (Dovish Dissenter)
- Risk management consideration played role in vote to raise asset purchases


Technical analysis:
BTC has been trading upwards towards the resistance at the price of $9,250. I found the rejection of the resistance and potential for the further downside continuation towards the level at $8,630.


Trading recommendation:
Watch for selling opportunties on the rallies, The downward targets are set at the price of $8,631 and $8,155.

Stochastic oscillator is showing an overbought condition, which is sign that downside is expected.

Major resistance is set at the price of $9,250

Support levels and downward targets are set at the price of $8,630 and $8,155



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Performed by Petar Jacimovic
Analytical expert
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