Analytical Look At Bitcoin, A Cryptocurrency With Bearish Potential| FXMAG.COM

Technical analysis:
Trading recommendation:

Technical analysis:

analytical look at bitcoin a cryptocurrency with bearish potential grafika numer 1

BTC has been trading downside as I expected. The price reached first objective at the price of $21.235 but I see potential for further downside movement towards next reference points.

Trading recommendation:

BTC is trading flat this morning but I found potential bear flag pattern, which can be very good sign for further downside movement.

Watch for the selling opportunities with the downside objectives at the price of $19.590 and $18.500.

Stochatic oscillator is showing fresh downside cross from the overbought zone, which can be good sign for the further downside continuation.

Key resistance is set at the price of $22.600

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Relevance up to 08:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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