FX.co ★ BTC analysis for March 03,.2021 - Completion of the abc in progress and potential for downside movement towards $47.280

Further Development

Analyzing the current trading chart of BTC, I found that there is completion of the upside correction ABC and potetnial for the downside wave.

My advice is to still watch for selling opportunities on the rallies using the intraday time-frames.

Downside targets are set at $47,280 and $43,300

Stochastic is in overbought condition and got bearish divergence of the slower line, which is another sign for the further downside movement.

Key Levels:

Resistance: $52,000

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