20.01.202114:50 Forex Analysis & Reviews: BTC analysis for January 20,.2021 - Broken Pitchfork channel to the downside and potetnail for test of $30.400 and $27.800

Further Development

Exchange Rates 20.01.2021 analysis

Analyzing the current trading chart of BTC, I found that there is the breakout of the smaller Pitchfork channel to the downside, which is sign for the further downside movement.

Stochastic is not yet in the oversold zone and I think there there is still room for the downside.

Key Levels:

Resistance: $40,100

Support levels: $30,380 and $27,800

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

Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2021
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