Technical analysis:
BTC has been trading upside today but I see potential for the further upside movement and breakout of the cluster at the price of $59,900.
Trading recommendation:
Due to oversold condition in the background there is potential for the further upside movement.
Watch for buying opportunities on the pullbacks and potential for test of $60,000 and $62,250.
Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside rotation.
Key support based on the daily time-frame is set at the price of $53,200
The material has been provided by InstaForex Company - www.instaforex.com