FX.co ★ BTC analysis for January 20,.2021 - Broken Pitchfork channel to the downside and potetnail for test of $30.400 and $27.800

Further Development

Analyzing the current trading chart of BTC, I found that there is the breakout of the smaller Pitchfork channel to the downside, which is sign for the further downside movement.

Stochastic is not yet in the oversold zone and I think there there is still room for the downside.

Key Levels:

Resistance: $40,100

Support levels: $30,380 and $27,800