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21.10.202113:51 Forex Analysis & Reviews: BTC analysis for October 21,.2021 - Strong downside pressure and potential for breakout of upside channel

Technical analysis:

Exchange Rates 21.10.2021 analysis

BTC has been trading downside and it is creation of the second downside leg.

Trading recommendation:

My advice is to watch for selling opportunities due to strong supply and potential for the breakout of the upside channel.

Downside targets are set at the price of $61,500 and $59,000

Stochastic oscillator is showing fresh bear cross and potential for the downside continuation.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaForex
© 2007-2021
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