FX.co - BTC update for March 07,.2022 - Potential for the downside continuation

2022-03-07T13:27:14

Relevance until2022-03-08

Technical analysis:

BTC update for March 07,.2022 - Potential for the downside continuation

BTC has been trading in downside trend and I see no big reversal yet, which is sign that BTC can trader further downside.

Trading recommendation:

Due to strong downside trend in the background, I see potential for the downside continuation after the upside correction.

Watch for selling opportunities on the rallies with the downside objectives at $37,625 and $37,000.

Key resistance set at the price of $39,700

*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 update for March 07,.2022 - Potential for the downside continuation