FX.co - BTC analysis for April 05,.2021 - Breakout of the rising channel and triangle. Potetnial for more downside movement towards $55.000

2021-04-05T10:58:37

Relevance until2021-04-07

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BTC analysis for April 05,.2021 - Breakout of the rising channel and triangle. Potetnial for more downside movement towards $55.000

Analyzing the current trading chart of BTCd, I found that sellers are in control as I expected last week due to the breakout of the rising channel.

My advice is still to watch for selling opportunities on the rallies with the downside targets at $55.000 and $51.000.

Stochastic oscillator is near the oversold zone but with the fresh bear cross, which is sign that sellers are still active.

*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 April 05,.2021 - Breakout of the rising channel and triangle. Potetnial for more downside movement towards $55.000