FX.co - BTC analysis for May 19,.2021 - Strong downside pressure and potential for drop towards $30.000

2021-05-19T12:13:34

Relevance until2021-05-21

Technical analysis:

BTC analysis for May 19,.2021 - Strong downside pressure and potential for drop towards $30.000

BTChas been downwards as I expected. There is strong downside pressure and potential for test of the major support zone at $30.000.

Trading recommendation:

Watch for potential selling opportunities on the rallies with downside target at $30.360.

Stochastic is showing oversold condition but with no bull cross, which is sign that sellers are in big control..

Key resistance is set at $47.000

*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 19,.2021 - Strong downside pressure and potential for drop towards $30.000