FX.co - BTC analysis for July 12,.2021 - Bear flag pattern breakout and potential for drop towarsd $32.130

12 July 2021 at 11:59AM (UTC+0)

Relevance until13 July 2021 at 11:59AM (UTC+0)

Technical analysis:

BTC analysis for July 12,.2021 - Bear flag pattern breakout and potential for drop towarsd $32.130

BTC has been trading sideways at the price of $33.600 and there is bear flag in creation.

Trading recommendation:

Watch for potential selling opportunities due to bear flag pattern with downside trend in the background.

Downside targets are set at the price of $32.130 and $30.00.

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

Key resistance is set at the price of $35.000.

*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 July 12,.2021 - Bear flag pattern breakout and potential for drop towarsd $32.130