FX.co - BTC analysis for June 04,.2021 - Completion of the ABC upside correction and potential for the downside rotation...

2021-06-04T14:15:53

Relevance until2021-06-06

Technical analysis:

BTC analysis for June 04,.2021 - Completion of the ABC upside correction and potential for the downside rotation...

BTC has been trading downwards as we expected. I still see potential for the downside movement towards $33.500.

Trading recommendation:

Watch for potential selling opporutnities on the rallies due to completion of the ABC upside correction and short-term downside trend.

Downside targets are set at the price of $33.450 and $31.420.

Stochastic is showing bearish reading with no evidence of the reversal....

Resistance is set at $40.000

*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 June 04,.2021 - Completion of the ABC upside correction and potential for the downside rotation...