FX.co ★ BTC update for April 08,.2022 - Potential for bigger drop

Technical analysis:

BTC has been trading sideways at the price of $43.500. There is potential for the bigger drop and the downside continuation.

Trading recommendation:

Due to strong downside cycle in the background and symmetrical triangle in creation, I see potential for the downside continuation.

Watch for potential selling opportunities in case of the downside breakout of triangle.

Downside objective is set at $41.100

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Resistance is set at the price of $44.300