Crypto Market Crash: 1 BTC Price Update For June 20,.2022 - Potential for the downside breakout of the channel | InstaForex

Bitcoin Is Showing The Potential For The Further Downside Rotation

Relevance up to 17:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis:

BTC has been trading at the resistance pivot at $21.000. The trend is to the downside and there is defined upside channel. Breakout potential to the downside is the option. Trading recommendation: Due to strong downside trend in the background, I see potential for the downside continuation and potential breakout of the upside channel. In case of the downside breakout of the channel, watch for selling opportunities with the downside objective at $18.000. Stochastic is showing fresh bear cross in the background and the negative reading, which is good sign for further downside movement. Key resistance is set at the price of $21.000

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Bitcoin Is Showing The Potential For The Further Downside Rotation

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