FX.co - BTC analysis for September 16,.2020 - Watch for selling opportunities due to lack of buyers and strong resistance

2020-09-16T15:15:20

Relevance until2020-09-18

Further Development

BTC analysis for September 16,.2020 - Watch for selling opportunities due to lack of buyers and strong resistance

Analyzing the current trading chart of BTC, I found that there is potential for the downside movement again towards the $9,700.

Key pivot resistance is set at the price of $11,150. I would watch for selling opportunities on the rallies with the downside target at $9,710

Additionally, there is divergence on the Stochastic oscillator, which is good sign that buyers are losing power.

Key Levels:

Resistance: $11,150

Support levels: $9,710

*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 September 16,.2020 - Watch for selling opportunities due to lack of buyers and strong resistance