FX.co ★ BTC analysis for October 27,.2021 - Sellers in control

Technical analysis:

BTC has been trading downside and there is still potential for further drop. There is the breakout of the well defined trend line in the background...

Trading recommendation:

Due to the breakout of the rising trend line in the background and selling pressure today, my advice is to watch for selling opportunities on the rallies.

Downside targets are set at the price of $56,380 (Fibonacci 100%) and $51,950 (Fibonacci 161.8%).

Stochastic is showing that bears in control with evidence for the reversal....

Key resistance is set at the price of $63,700