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20.09.202114:22 Forex Analysis & Reviews: BTC analysis for September 20,.2021 - Strong selling pressure and potential for the test of $38.000

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:

Exchange Rates 20.09.2021 analysis

BTC has been trading downside as we expected. The BTC is heading towards 100% projection at $38,000.

Trading recommendation:

Due to strong downside pressure and the breakout of the 5-day balance, watch for selling opportunities on the rallies.

Downside target is set at the price of $38,000

Stochastic is showing another fresh bear cross on the daily time-frame, which is good confirmation for the downside movement.

Petar Jacimovic
Analytical expert of InstaForex
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