FX.co - BTC analysis for August 27,.2021 - Breakout of the base in the background

2021-08-27T12:17:09

Relevance until2021-08-28

Technical analysis:

BTC analysis for August 27,.2021 - Breakout of the base in the background

BTC has been trading sideways at the price of $47,500 but I see further downside movement.

Trading recommendation:

Due to the breakout of the bracket in the background, watch for selling opportunities on the rallies.

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

Stochastic oscillator is showing bear cross and overbought condition, which is another indication for the further downside movement.

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 27,.2021 - Breakout of the base in the background