FX.co - BTC analysis for October 22,.2021 - Potential for the downside cotninuation

2021-10-22T12:45:07

Relevance until2021-10-23

Technical analysis:

BTC analysis for October 22,.2021 - Potential for the downside cotninuation

BTC has been trading upside but on very slow momentum, which is sign for potential exhaustion from buyers.

Trading recommendation:

Due to strong downside momentum in the background I see potential for the downside continuation in the next period.

Watch for selling opportunities on the rallies with the downside targets at the price of $62,000 and $61,150

Resistance is set at $64,000

*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 22,.2021 - Potential for the downside cotninuation