BTC analysis for October 08,.2021 - ROunding top formation

Technical analysis: BTC has been trading downside most recently and I see potential for downside continuation. Watch for selling opportunities on the rallies with the downside targets at $53,510 and $52,000. Stochastic is showing fresh bear cross with the overbought condition. Key resistance is set at the price of $56,000 In the background we got buying climax and rounding top formation, which is another sign for the downside movement.The material has been provided by InstaForex Company - www.instaforex.com

BTC analysis for October 08,.2021 - ROunding top formation

Technical analysis:

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BTC has been trading downside most recently and I see potential for downside continuation.

Watch for selling opportunities on the rallies with the downside targets at $53,510 and $52,000.

Stochastic is showing fresh bear cross with the overbought condition.

Key resistance is set at the price of $56,000

In the background we got buying climax and rounding top formation, which is another sign for the downside movement.

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