FX.co - BTC analysis for June 16,.2021 - Breakout of the mini upside channel and potential for drop towards $35.000

2021-06-16T11:42:40

Relevance until2021-06-16

Technical analysis:

BTC analysis for June 16,.2021 - Breakout of the mini upside channel and potential for drop towards $35.000

BTC has been trading downwards as I expected yesterday. There is the breakout of the upside drift and potential for further bigger drop.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside targets at the price of $37.500 and $35.100.

Stochastic is showing fresh bear cross, which is another sign of weakness.

*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 16,.2021 - Breakout of the mini upside channel and potential for drop towards $35.000