FX.co - BTC analysis for October 25,.2021 - Potential for the downside cotninuation

2021-10-25T12:52:46

Relevance until2021-10-26

Technical analysis:

BTC analysis for October 25,.2021 - Potential for the downside cotninuation

BTC has been trading upside in last 24 hours but I see potential exhaustion and downside rotation towards $62,000.

Trading recommendation:

Due to test of the Pitchfork middle lane nad exhaustion in momentum, I see potential for the downside movement towards $62,000.

Watch for swelling opportunities with the downside target at $62,000.

Stochastic oscillator is showing bear divergence and potential for the drop....

Key resistance is set at the price of $63,400

*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 25,.2021 - Potential for the downside cotninuation