FX.co ★ BTC analysis for February 10,.2021 - Broken symmetrical triangle and potential downside movement towards $43.425

Further Development

Analyzing the current trading chart of BTC, I found that there is the breakout of the symmetrical triangle on the 4H time-frame, which is sign that there is potential for furhter downside.

Watch for selling opportunities with the downside targets at $43,245 and $40,635.

Stochastic oscillator showing overbought condition and the bearish divergence, which is another sign for further downside movement.

Key Levels:

Resistance: $48,000

Support levels: 43,245 and $40,635.