BTC analysis for May 03,.2021 - BTC in the rising channel and with potential for test of $62.000

Further Development

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Analyzing the current trading chart of BTC, I found that buyers are in control and that there is more space for upside continuation towards $62.000.

My advice is to watch for buying opportunities on the dips wit hthe main upside target at $61.900.

BTC is trading inside of the rising trend-channel, which is another confirmation for the upside trend.

Additionally, there is the no divergence on the Stochastic and the MACD is positive, which is good sign for the upside continuation....

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

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