FX.co - BTC analysis for October 04,.2021 - Bearish divergence in the momentum

2021-10-04T11:53:53

Relevance until2021-10-05

Technical analysis:

BTC analysis for October 04,.2021 - Bearish divergence in the momentum

BTC has been trading downside and I see further bearish continuation.

Trading recommendation:

Due to the bearish divergence in the momentum and test and reject of the strong pivot level at $48,800, I see further downside movement.

Watch for selling opportunities on the rallies with the downside targets at the price of $45,200 and $44,420.

Stochastic is showing bearish divergence in the background.

*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 October 04,.2021 - Bearish divergence in the momentum