FX.co - BTC analysis for August 13,.2021 - Key resistance on the test at $47.000

2021-08-13T12:43:15

Relevance until2021-08-15

Technical analysis:

BTC analysis for August 13,.2021 - Key resistance on the test at $47.000

BTC has been trading upside today but there is major resistance at the price of $47,500.

Trading recommendation:

Watch for the rejection of the resistance and breakout of the pivot low at $43,900 to confirm further downside.

Downside breakout of the support at the price of $43,800 can confirm test of $42,900 and $37,500.

Stochastic oscillator is showing bear divergence, which is another sign for potential 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 13,.2021 - Key resistance on the test at $47.000