BTC analysis for June 01,.2020 - Broken upward channel and potential for the bigger drop towards the $8.750 and Pitchfork Median Line

Corona virus summary:
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Technical analysis:
BTC has been trading upwards. The price tested and rejected of the level at $9,600. I see further downside rotation towards the levels at $8,760 and $8,650..


Trading recommendation:
Watch for selling opportunities on the BTC due to overbought condiiton on the Stochastic oscillator.

I also found the breakout of the upward channel in the background, which is another sign for the weakness.

The downward targets are set at $8,760 and $8,650.




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Performed by Petar Jacimovic
Analytical expert
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