FX.co ★ BTC analysis for September 29,.2020 - Broken rising trend-channel in the background and potential for the new down swing towards $10.150

Further Development

Analyzing the current trading chart of BTC, I found good sell-zone location at $10,800 and lack of buying power, which is good sign for selling opportunities.

There is the breakout of the rising channel in the background based on the hourly time-frame, which is another confirmation for the further downside continuation. It is also the test of the middle Bollinger band on hourly.

Watch for selling opportunities on the rallies with the downside targets at $10,565 and $10,155.

Key Levels:

Resistance: $10,800

Support levels: 10,565 and $10,155.