07.05.202116:08 Ανάλυση και κριτικές Forex: BTC analysis for May 07,.2021 - WEll defined trading range and potential for the downside rotation towards $53.125

Technical analysis:

Exchange Rates 07.05.2021 analysis

BTC has been trading sideways at the price of $57.000 but I see potential for the further downside rotation.

Trading recommendation:

I found the wll defined trading range between the price of $59.000 and $53.120

Watch for potential selling opportunities with the downside target at $53.125

Additionally, there is the bearish corss on the Stochastic oscillator, which is another sign for the downside movement...

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

Petar Jacimovic,
Αναλυτικός εμπειρογνώμονας της InstaForex
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