FX.co - BTC analysis for June 07,.2021 - Potential for the downside continuation towards $31.300

2021-06-07T08:49:30

Relevance until2021-06-09

Technical analysis:

BTC analysis for June 07,.2021 - Potential for the downside continuation towards $31.300

BTC has been trading sideways this morning at the price of $36.000.I still see potential for the downside movement.

Trading recommendation:

My advice is to watch for selling opportunities on the rallies with the downside targets at the price of $33.400 and $31.300.

Stochastic is showing neutral reading at the 50 level and the fresh downside cross would be another confirmation for the downside.

Additionally, bear flag pattern is in creation, which is good sign for further bear continuation.

Key resistance is set at $39.500

*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 07,.2021 - Potential for the downside continuation towards $31.300