FX.co - BTC analysis for October 18,.2021 - Key resistance at $61.000 on the test

2021-10-18T12:08:15

Relevance until2021-10-19

Technical analysis:

BTC analysis for October 18,.2021 - Key resistance at $61.000 on the test

BTC has been trading sideways at the price of $61,000. I see potential for the downside rotation.

Trading recommendation:

Key resistance at the price of $65,000 is on the test and I see potential for the downside rotation.

Watch for selling opportunities with the downside target at the price of $53,210

Stochastic oscillator is showing overbought condition with the 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 18,.2021 - Key resistance at $61.000 on the test