FX.co - BTC analysis for September 17,.2021 - Bearish divergence and potential for the drop towards $44.350

17 September 2021 at 11:53AM (UTC+0)

Relevance until18 September 2021 at 11:53AM (UTC+0)

Technical analysis:

BTC analysis for September 17,.2021 - Bearish divergence and potential for the drop towards $44.350

BTC has been trading downside as I expected but I see further continuation. Selling opportunities are preferable under today's condition.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside target at $44,350.

Stochastic is showing fresh bear cross and the bear divergence in the background, which is another sign and confirmation for the downside rotation.

Resistance is set at the price of $48,250

*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 17,.2021 - Bearish divergence and potential for the drop towards $44.350