FX.co ★ BTC analysis for March 10,.2021 - Potential completion of the ABC upside correction and downside continuation

Further Development

Analyzing the current trading chart of BTC I found that there is test of the Fibo 100% expansion at the price of $56,600, which is sign for the potential downside rotation.

My advice is to watch for selling opportunities on the rallies with the downside targets at $49,750 and $46,325.

Stochastic oscillator is in overbought zone, which is another confirmation for further downside rotation....

Key Levels:

Resistance: $56,600

Support level: $49,775 and $46,325