FX.co - BTC analysis for June 01,.2021 - Completion of the ABC upside correction and potentia lfor downside movement

2021-06-01T12:38:39

Relevance until2021-06-02

Technical analysis:

BTC analysis for June 01,.2021 - Completion of the ABC upside correction and potentia lfor downside movement

BTC has been trading downwards in last 12 hours and i see potential for the further downside movement.

Trading recommendation:

Watch for potential selling opportunities due to potential completion of the ABC upside correction and downside continuation.

Downside targets are set at the price of $33.850 and $29.120.

Stochastic is showing overbought condition and fresh bear cross, which is another sign and confirmation for the downside rotation.

*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 June 01,.2021 - Completion of the ABC upside correction and potentia lfor downside movement