03.08.202114:29 Forex Analysis & Reviews: BTC analysis for August 03,.2021 - Breakout of the bear flag pattern and pottential for test of $36.400

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

BTC has been trading downwards as I expected. There is the bearish flag pattern continuation al, which is good sign for further drop.

Trading recommendation:

Watch for selling opportunities on the rallies with the next downside target at $36,400.

Stochastic oscillator is showing bear cross, which is another sign for the weakness...

The trend is down....

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade