FX.co - BTC analysis for August 02,.2021 - Breakout of the contraction and potential for drop towards $36.000

2021-08-02T12:39:54

Relevance until2021-08-04

Technical analysis:

BTC analysis for August 02,.2021 - Breakout of the contraction and potential for drop towards $36.000

BTC has been trading downwards. I found the downside breakout of the upside channel and potential for further drop towards $36,400.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside targets at the price of $36,400 and $34,800

Stochastic oscillator is showing negative reading with no evidence for the reversal....

*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 August 02,.2021 - Breakout of the contraction and potential for drop towards $36.000