FX.co - BTC analysis for August 25,.2021 - Breakout of the bracketing market and potential for further drop

2021-08-25T11:47:19

Relevance until2021-08-27

Technical analysis:

BTC analysis for August 25,.2021 - Breakout of the bracketing market and potential for further drop

BTChas been trading downside today and I see potential downside continuation in the next period.

Trading recommendation:

Watch for selling opportunities on the rallies due to the breakout of the bracketing market in the background.

Downside target is set at the price of $44,000.

Stochastic oscillator is showing overbought reading and fresh bear cross with good price action for the downside continuation.

Key resistance is set at the price of $50,000

*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 25,.2021 - Breakout of the bracketing market and potential for further drop