FX.co - BTC analysis for February 02,.2021 - Potential for the completion of the upside correction and dowwnside movement towards $30.000

2021-02-02T13:23:49

Relevance until2021-02-03

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BTC analysis for February 02,.2021 - Potential for the completion of the upside correction and dowwnside movement towards $30.000

Analyzing the current trading chart of BTC, I found that buyers got exhausted and that there is potential for the downside movement towards $29,000.

My advice is to watch for selling opportunities on the rallies with the downside target at the price of $29,000.

Additionally, there is the overbought condition on the Stochastic oscillator, which is sign that there is potential for the downside rotation...

*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 February 02,.2021 - Potential for the completion of the upside correction and dowwnside movement towards $30.000