FX.co - BTC analysis for September 24,.2020 - Bear flag in creation on the hourly time-frame. Potential for drop towards the level of $9.850

2020-09-24T11:38:38

Relevance until2020-09-26

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BTC analysis for September 24,.2020 - Bear flag in creation on the hourly time-frame. Potential for drop towards the level of $9.850

Analyzing the current trading chart of BTC, I still see potential for the new downside leg towards the levels at $10,140 and $9,854.

Based on the hourly time-frame, I found that there is the bear flag pattern in creation.

Watch for selling opportunities on the rallies with take profits at $10,140 and $9,855

Stochastic oscillator is looking overbought, which is another sign for the potential downside rotation....

Key Levels:

Resistance: $10,500

Support level: 10,140 and $9,855

*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 24,.2020 - Bear flag in creation on the hourly time-frame. Potential for drop towards the level of $9.850