FX.co - BTC analysis for October 21,.2021 - Strong downside pressure and potential for breakout of upside channel

2021-10-21T11:51:05

Relevance until2021-10-22

Technical analysis:

BTC analysis for October 21,.2021 - Strong downside pressure and potential for breakout of upside channel

BTC has been trading downside and it is creation of the second downside leg.

Trading recommendation:

My advice is to watch for selling opportunities due to strong supply and potential for the breakout of the upside channel.

Downside targets are set at the price of $61,500 and $59,000

Stochastic oscillator is showing fresh bear cross and potential for the downside continuation.

*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 October 21,.2021 - Strong downside pressure and potential for breakout of upside channel