FX.co - BTC analysis for May 03,.2021 - BTC in the rising channel and with potential for test of $62.000

2021-05-03T12:01:02

Relevance until2021-05-04

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BTC analysis for May 03,.2021 - BTC in the rising channel and with potential for test of $62.000

Analyzing the current trading chart of BTC, I found that buyers are in control and that there is more space for upside continuation towards $62.000.

My advice is to watch for buying opportunities on the dips wit hthe main upside target at $61.900.

BTC is trading inside of the rising trend-channel, which is another confirmation for the upside trend.

Additionally, there is the no divergence on the Stochastic and the MACD is positive, which is good sign for the upside continuation....

*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 May 03,.2021 - BTC in the rising channel and with potential for test of $62.000