FX.co - BTC analysis for September 16,.2021 - Bearish divergences in the background

2021-09-16T13:12:15

Relevance until2021-09-17

Technical analysis:

BTC analysis for September 16,.2021 - Bearish divergences in the background

BTC has been trading sideways at the price of $48,000. I see potential for the downside movement towards $47,400 and $46,830

Trading recommendation:

Watch for selling opportunities on the rallies with the downside targets at $47,400 and $46,830

Stochastic oscillator is showing bearish divergence in the background and potential for further downside.

Resistance is set at $48,700

*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 16,.2021 - Bearish divergences in the background