FX.co - BTC analysis for May 18,.2021 - Sellers in control and potential for drop towards $30.000

2021-05-18T13:52:59

Relevance until2021-05-20

Technical analysis:

BTC has been trading at the important pivot support at $42.300 and no big reaction from buyers is sign that sellers are still in control.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside target at the price fo $30.370.

Stochastic is showing oversold condition but with no bull cross, which is another sign that sellers are in big control.

*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 18,.2021 - Sellers in control and potential for drop towards $30.000