FX.co - BTC analysis for November 11,.2021 - Watch for intraday downside continuation

11 November 2021 at 1:27PM (UTC+0)

Relevance until12 November 2021 at 1:27PM (UTC+0)

Technical analysis:

BTC analysis for November 11,.2021 - Watch for intraday downside continuation

BTC has been treading inside of the tight rising channel. I see potential for the downside continuation.

Trading recommendation:

I see potential for the downside continuation and another breakdown towards the $63,000.

Watch for selling opportunities in case of the downside breakout. Downside target is seet at the price of $63,000.

Stochastic is showing fresh bear cross, which is another sign and confirmation for the bearish continuation.

Resistance level is set at $69,900

*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 November 11,.2021 - Watch for intraday downside continuation