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FX.co ★ BTC analysis for May 24,.2021 - Inside days formation and potential for the breakout

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Crypto Analysis:::2021-05-24T12:23:16

BTC analysis for May 24,.2021 - Inside days formation and potential for the breakout

Technical analysis:

BTC analysis for May 24,.2021 - Inside days formation and potential for the breakout

BTC has been trading sideways at the price of $37.000 but I see potential for the breakout.

Trading recommendation:

My advice is to watch for the breakout of the inside formation to confirm further direction.

Resistance is set at $43.000

Support is set at $29.000

Downside breakout of the support at $29.000 can lead BTC towards the $22.000

Upside breakout of the resistance at $43.000 can lead BTC towards the $.48.000

Analyst InstaForex
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