BTC analysis for September 24,.2020 – Bear flag in creation on the hourly time-frame. Potential for drop towards the level

Further Development

Analyzing the current trading chart of BTC, I still see potential for the new downside leg towards the levels at $10,140 and $9,854.

Based on the hourly time-frame, I found that there is the bear flag pattern in creation.

Watch for selling opportunities on the rallies with take profits at $10,140 and $9,855

Stochastic oscillator is looking overbought, which is another sign for the potential downside rotation….

Key Levels:

Resistance: $10,500

Support level: 10,140 and $9,855

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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