FX.co ★ BTC analysis for January 28,.2021 - Potential for the another downside cycle towards $26.125 and $21.965

Analyzing the current trading chart of BTC, I found that there is potential for the another downside cycle and potential test of $26,125 and $22,000.

Watch for selling opportunities on the rallies using the short-term frames like hourly and 4h time frames with the potential downside target at $26,125 and $22,000

Stochastic oscillator got is near the extreme level, which is sign that there might be overbought condition.

Key Levels:

Resistance:$34,000

Support level: $26,125 and $21,965