Technical analysis:
BTC/USD has been trading downside today and I found breakout of the bear flag pattern, which is good sign for the further downside movement.
Due to the breakout of the bear flag pattern and the strong momentum to the downside, I see potential for the further drop toiwards lower reference.
Downside objective is set at the price of $28.700
Stochastic oscillator is showing downside reading with no major sign for the upside rotation.
Intraday resistance is set at the price of $29.250
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
BTC/USD
has been trading downside today and I found breakout of the bear flag
pattern, which is good sign for the further downside movement.
Due
to the breakout of the bear flag pattern and the strong momentum to
the downside, I see potential for the further drop toiwards lower
reference.
Downside
objective is set at the price of $28.700
Stochastic
oscillator is showing downside
reading with no major sign for the upside
rotation.
Intraday
resistance is set at the price of $29.250
The material has been provided by InstaForex Company – www.instaforex.com
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