FX.co ★ BTC analysis for August 20,.2020 - Completion of the ABC downside correction and potential for the upside continuation towaryds $12.095

Further Development

Analyzing the current trading chart of BTC, I found that the sellers got exhausted today and the uspide roattion would be probably to correct strong downside movement from yesterday.

I aslo see potential completion of the ABC and new fresh up swing is epxected

Watch for buying opportunities with the targets at $12,095 and $12,175

Additionally, there is the bull divergence on the Stochastic oscillator, which is another sign that sellers became exhausted.

Key Levels:

Resistance:$12,095 and $12,175

Support level: $11,600