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FX.co ★ BTC analysis for February 04,.2022 - Breakout of consolidation zone

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Crypto Analysis:::2022-02-04T14:23:58

BTC analysis for February 04,.2022 - Breakout of consolidation zone

Technical analysis:

BTC analysis for February 04,.2022 - Breakout of consolidation zone

BTC has been trading downside today and there is breakout of the balanced regime in the background, which is sign that BTC can trade lower in next period.

Trading recommendation:

Due to the downside breakout of the multi-hour balance, I see potential for the selling opportunities on the rallies with the downside objectives at :36,775, $36,285 and $35,420.

Key resistance is set at the price of $38,200

Analyst InstaForex
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