FX.co - BTC analysis for October 11,.2021 - Bearish divergence in the backgorund

2021-10-11T11:50:20

Relevance until2021-10-12

Technical analysis:

BTC analysis for October 11,.2021 - Bearish divergence in the backgorund

BTC has been trading upside this morning but I see exhaustion on the upside and potential for the downside correction.

Trading recommendation:

Due to channeling mode and bearish divergences on the Stochastic, I see potential for the downside rotation.

Downside objective is set at the price of $51,900.

Resistance is set at the price of $57,000

*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 11,.2021 - Bearish divergence in the backgorund