Further Development
Analyzing the current trading chart of BTC, I found that major resistance is on the tes at the $60.000t and that there is the chance for the downside rotation towards $54.925 and $51.000.
My advice is to watch for selling opportunities on the rallies with the downside target at $55.000.
Stochastic oscillator is overbought, which is another sign of weakness...
Additiaonlly, there is the breakout of the rising channel in the background....
Key Levels:
Resistance: $60.000Support level: $54.925 and $51.000.
The material has been provided by InstaForex Company - www.instaforex.com