Further Development


Analyzing the current trading chart of BTC, I found that there is the breakout of the symmetrical triangle on the 4H time-frame, which is sign that there is potential for furhter downside.

Watch for selling opportunities with the downside targets at $43,245 and $40,635.

Stochastic oscillator showing overbought condition and the bearish divergence, which is another sign for further downside movement.

Key Levels:

Resistance: $48,000

Support levels: 43,245 and $40,635.

The material has been provided by InstaForex Company – www.instaforex.com

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