FX.co - BTC analysis for May 28,.2021 - Downside target reached at $36.500 but potential for another drop and test of $31.000

2021-05-28T12:02:26

Relevance until2021-05-30

BTC analysis for May 28,.2021 - Downside target reached at $36.500 but potential for another drop and test of $31.000

Technical analysis:

BTC analysis for May 28,.2021 - Downside target reached at $36.500 but potential for another drop and test of $31.000

BTC has been trading downside as I expected. THe price reached my second downside target at $36.450 and it is heading towards the third target at $31.000.

Trading recommendation:

Watch for potential selling opportunities on the rallies due to the breakout of the rising channel in the background.

Next downside target is set at $31.000.

Stochastic is showing oversold condition but there is the another downside cross, which is sign for further downside movement.

Resistance is set at $37.200

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

#Crypto-currencies #Bitcoin #Bitcoin Cash #BTCUSD #BCHUSD

Analytical expert

Petar Jacimovic

InstaFintech Group @ 2007-2024

FX.co ★ BTC analysis for May 28,.2021 - Downside target reached at $36.500 but potential for another drop and test of $31.000

Forex Analysis

BTC analysis for May 28,.2021 - Downside target reached at $36.500 but potential for another drop and test of $31.000