FX.co - BTC analysis for May 06,.2021 - Major resistance at $58.000 on the test

2021-05-06T11:34:13

Relevance until2021-05-08

Technical analysis:

BTC analysis for May 06,.2021 - Major resistance at $58.000 on the test

BTC has been trading upside but I see potential for the downside rotation. There is strong resistance at $58.000..Trading recommendation:

Watch for potential selling opportunities due to potential extreme reading and strong resistance at $58.000.

Stochastic oscillator is showing extreme condition and overbought, which is sign for potential downside rotation..

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for May 06,.2021 - Major resistance at $58.000 on the test