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BTC analysis for October 11,.2021 - Bearish divergence in the backgorund

Technical analysis:

analytics616424d065b00.jpg

BTC has been trading upside this morning but I see exhaustion on the upside and potential for the downside correction.

Trading recommendation:

Due to channeling mode and bearish divergences on the Stochastic, I see potential for the downside rotation.

Downside objective is set at the price of $51,900.

Resistance is set at the price of $57,000

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