FX.co - BTC analysis for May 27,.2021 - Upside exhaustion and potential for drop towards $37.000

2021-05-27T12:38:40

Relevance until2021-05-28

Technical analysis:

BTC analysis for May 27,.2021 - Upside exhaustion and potential for drop towards $37.000

BTC has been trading upwards but I found exhaustion and potential for the downside rotation.

Trading recommendation:

Watch for potential selling opportunities due to the overbought condition and exhaustion.

Downside targets are set at the price of $37.200 and $36.600.

Stochastic is showing overbought condition and the fresh bear cross, which is good confirmation for the downside movement.

Additionally, there is the rejection of the upper Bollinger line on the hourly time-frame.

*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 27,.2021 - Upside exhaustion and potential for drop towards $37.000