04.02.202216:23 Forex Analysis & Reviews: BTC analysis for February 04,.2022 - Breakout of consolidation zone

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 downside today and there is breakout of the balanced regime in the background, which is sign that BTC can trade lower in next period.

Trading recommendation:

Due to the downside breakout of the multi-hour balance, I see potential for the selling opportunities on the rallies with the downside objectives at :36,775, $36,285 and $35,420.

Key resistance is set at the price of $38,200

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