FX.co - BTC analysis for May 24,.2021 - Inside days formation and potential for the breakout

2021-05-24T12:23:16

Relevance until2021-05-27

Technical analysis:

BTC analysis for May 24,.2021 - Inside days formation and potential for the breakout

BTC has been trading sideways at the price of $37.000 but I see potential for the breakout.

Trading recommendation:

My advice is to watch for the breakout of the inside formation to confirm further direction.

Resistance is set at $43.000

Support is set at $29.000

Downside breakout of the support at $29.000 can lead BTC towards the $22.000

Upside breakout of the resistance at $43.000 can lead BTC towards the $.48.000

*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 24,.2021 - Inside days formation and potential for the breakout