FX.co - BTC analysis for July 20,.2021 - Breakout mode in play and potential test of $20.000

2021-07-20T11:19:52

Relevance until2021-07-22

Technical analysis:

BTC analysis for July 20,.2021 - Breakout mode in play and potential test of $20.000

BTC has been trading downwards after the breakout of the tight consolidation. I see further downside movement.

Trading recommendation:

Watch for potential sselling opportunities on the rallies and the potential breakout of key support at $28,750.

Next bigger downside target is set at the price of $20,500.

Stochastic is in oversold area but with no evidence of any reversal....

*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 20,.2021 - Breakout mode in play and potential test of $20.000