FX.co - BTC analysis for September 29,.2021 - Bearish divergence and potential for drop towards $40.800

2021-09-29T12:30:23

Relevance until2021-09-30

Technical analysis:

BTC analysis for September 29,.2021 - Bearish divergence and potential for drop towards $40.800

BTC has been trading upside this morning but I see exhaustion from buyers and potential for the downside movement.

Trading recommendation:

Watch for selling opportunities with the downside target at $40,800

Stochastic is showing extreme reading and divergence, which is sign that downside movement is expected.

Resistance s set at $42,600

*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 29,.2021 - Bearish divergence and potential for drop towards $40.800