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12.10.2021 01:30 PM
BTC analysis for October 12,.2021 - Potential for the downside rotation

Technical analysis:

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BTC has been trading sideways at the price of $57,000 but I see potential for the downside movement towards lower references.

Trading recommendation:

Watch for selling opportunities due to upside exhaustion in the background. The downside targets are set at $56,400, $55,900 and $45,600.

Stochastic is showing bearish divergence and potential for the further downside movement.

Key resistance is set at $57,800

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