FX.co ★ BTC analysis for February 29,.2021 - Bearish divergence and overbought condiiton for potential downside rotation towards $54.900

Further Development

Analyzing the current trading chart of BTC, I found that BTC is in the overbought intraday condition and that is good to watch for selling opportunities.

Watch for selling opportunities due to overbought condition with the downside targets at $55.000 and $50.510.

Stochastic oscillator is showing bearish divergence and potential for the downside movement.

Key Levels:

Resistance: $58.250

Support level: $55.000 and $50.510.