FX.co - BTC analysis for August 05,.2021 - Head and shoulders pattern in creation

Crypto Analysis:::2021-08-05T11:24:38

BTC analysis for August 05,.2021 - Head and shoulders pattern in creation

Technical analysis:

BTC analysis for August 05,.2021 - Head and shoulders pattern in creation

BTC iis trading downside and there is the HSS pattern in the background.

Trading recommendation:

Watch for the breakout of the HSS formation in the background to confirm further downside movement.

In case of the downside breakout of neckline, watch for selling opportunities on the rally with the downside target at $33,300

Petar Jacimovic

Analyst InstaForex