FX.co - BTC analysis for April 19,.2021 - First downside target reached at $50.000 but more potential for test of $43.000

Forex Analysis:::2021-04-19T12:26:37

BTC analysis for April 19,.2021 - First downside target reached at $50.000 but more potential for test of $43.000

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BTC analysis for April 19,.2021 - First downside target reached at $50.000 but more potential for test of $43.000

Analyzing the current trading chart of BTC, I found that BTC reached my second target at the price of $50.500 with strong downside momentum.

My advice is still to watch for potential selling opportunities on the rallies.

Lately, I found the bear flag pattern in creation, which is good indication for further downside continuation.

Downside targets are set at the price of $50.500 and $43.000.

Petar Jacimovic

Analyst InstaForex