For Traders

Analytical Reviews

Crypto-currencies

14.08.202016:45 Forex Analysis & Reviews: BTC analysis for August 14,.2020 - Potential for the another downside leg towards the $11.140

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.

As I discussed in the previous review, the BTC is in sideways mode and still inside of the range from 3-days ago.

Further Development

Analyzing the current trading chart on BTC, I found that there is potential for the downside rotation towards the support at $11,120 or even $10,580.

There is the breakout of the rising channel (slope) in the background, which is good indication for the further downside movement.

Key Levels:

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