BTC analysis for May 17,.2021 - Third target reached at $43.000 but potential for further downside towards $30.000

Technical analysis:

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BTC has been trading downwards as I expected. The price reached my third downside target at the price of $43.000.


Trading recommendation:
Anyway, my advice is still to watch for selling opportunities on the rallies with the downside target at $30.100.

Stochastic oscillator is in the oversold zone but there is no fresh bull cross, which is still bearish tone.

Resistance is set at $47.000




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Petar Jacimovic
Analytical expert
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