FX.co - BTC analysis for September 08,.2021 - Big drop in the background and potential for sell on rallies

8 September 2021 at 12:40PM (UTC+0)

Relevance until9 September 2021 at 12:40PM (UTC+0)

BTC has been trading downside as I expected. The price reached both downside objectives from previous day.

Trading recommendation:

BTC analysis for September 08,.2021 - Big drop in the background and potential for sell on rallies

Watch for the rally to complete and then for downside opportunities with the downside objectives at $43,345 and $38,300/

Stochastic is not showing fresh bear cross but there is no bull cross, which is sign that selling power is big,

The main cause for the drop was lack of buying power on the top.....

*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 September 08,.2021 - Big drop in the background and potential for sell on rallies