BTC analysis for November 17,.2020 – Bearish divergence on the 4h time-frame and potential for the downside rotation

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BTC analysis for November 17,.2020 - Bearish divergence on the 4h time-frame and potential for the downside rotation

BTC analysis for November 17,.2020 – Bearish divergence on the 4h time-frame and potential for the downside rotation

Further Development

BTC analysis for November 17,.2020 - Bearish divergence on the 4h time-frame and potential for the downside rotation

Analyzing the current trading chart of BTC, I found that the tested the median Pitchfork line with the bear divergece on the Stochastic oscillator, which is sign for the potential downside rotation.

My advice is to watch for selling opportunities with the downside targets at $16,600 and $15,870

BTC looks overextended and selling opportunities are preferable under this condiiton….

Key Levels:

Resistance: $17,000 and $19,500

Support levels: $16,600 and $15,870

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/195660/