For Traders

Analytical Reviews

Crypto-currencies

04.03.202114:14 Forex Analysis & Reviews: BTC analysis for March 04,.2021 - Completion of the ABC correction and potential downside movment towards $43.300

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.

Further Development

Analyzing the current trading chart of BTC, I found that BTC completed the ABC upside correction as I alerted you yesterday and that is ready for the new downside wave.

My advice is still to focus on selling opportunities on the rallies with the downside targets at $47,280 and $43,300.

Additionally,Stochastic oscillator got fresh bear cross, which is another sign of the downside wave.

Key Levels:

Resistance: $52,000

Support levels: $47,280 and $43,300.

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