FX.co - BTC analysis for August 10,.2021 - Key resistance at the price of $42.700 on the test

2021-08-10T11:40:36

Relevance until2021-08-12

Technical analysis:

BTC analysis for August 10,.2021 - Key resistance at the price of $42.700 on the test

BTCis testing key pivot resistance at the price of $47,000. I see potential for the downside rotation.

Trading recommendation:

Watch for selling opportunities around key pivot at $47,000 with the downside target at the price of $42,185.

Stochastic is showing bearish divergence and the overbought condition, which is another sign for the downside rotation....

*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 10,.2021 - Key resistance at the price of $42.700 on the test