BTC analysis for October 07,.2021 - Buying climax and rounding top in the background

Technical analysis: BTC has been trading flat today at $54,000 but I see potential for the downside movement towards $52,000. Trading recommendation: Due to buying climax in the background with the rounding top formation after, I see potential for the downside movement. Watch for selling opportunities on the rallies with the downside objective at the price of $52,000. Stochastic is showing bull cross but with new momentum low on slow line. Resistance is set at $55,500The material has been provided by InstaForex Company - www.instaforex.com

BTC analysis for October 07,.2021 - Buying climax and rounding top in the background

Technical analysis:

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BTC has been trading flat today at $54,000 but I see potential for the downside movement towards $52,000.

Trading recommendation:

Due to buying climax in the background with the rounding top formation after, I see potential for the downside movement.

Watch for selling opportunities on the rallies with the downside objective at the price of $52,000.

Stochastic is showing bull cross but with new momentum low on slow line.

Resistance is set at $55,500

The material has been provided by InstaForex Company - www.instaforex.com