FX.co - BTC analysis for August 18,.2021 - Rejection of the key resistance at $48.000 in the background

2021-08-18T14:02:13

Relevance until2021-08-20

Technical analysis:

BTC analysis for August 18,.2021 - Rejection of the key resistance at $48.000 in the background

BTC/USD has been trading downwards at the price of $45,250. I see potential for further downside continuation.

Trading recommendation:

Watch for selling opportunities on the intraday rallies with the downside targets at the price of $45,800 and $38,000.

Stochastic is showing bear divergence and fresh bear cross, which is another sign for the downside movement in the next period.

Key resistance is set at the price of $48,000

*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 August 18,.2021 - Rejection of the key resistance at $48.000 in the background