FX.co - BTC analysis for June 17,.2021 - Breakout of the bear flag pattern and potential for test of $35.000

2021-06-17T12:29:27

Relevance until2021-06-19

Technical analysis:

BTC analysis for June 17,.2021 - Breakout of the bear flag pattern and potential for test of $35.000

BTC has been trading downside as we expected but I still see potential for new downside wave.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside targets at the price of $37.500 and $35.000.

Stochastic is showing overbought condition and fresh new bear cross, which is good indication for the further drop...

*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 June 17,.2021 - Breakout of the bear flag pattern and potential for test of $35.000