FX.co - BTC analysis for July 05,.2021 - Potential for the drop towards $30.000

2021-07-05T11:41:56

Relevance until2021-07-07

Technical analysis:

BTC analysis for July 05,.2021 - Potential for the drop towards $30.000

BTC has been trading downside and see downside continuation towards $30.000.

Trading recommendation:

Watch for potential selling opportunities on the rallies due to potential end of the upside correction (ABC) and the outside bear bar....

Downside targets are set at the price of $30.000 and $28.920.

Stochastic is showing overbought condition, which is another sign and confirmation for the downside rotation.

Key resistance is set at the price of $36.500

*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 July 05,.2021 - Potential for the drop towards $30.000