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BTC analysis for February 04,.2022 - Breakout of consolidation zone

Technical analysis:


BTC has been trading downside today and there is breakout of the balanced regime in the background, which is sign that BTC can trade lower in next period.

Trading recommendation:

Due to the downside breakout of the multi-hour balance, I see potential for the selling opportunities on the rallies with the downside objectives at :36,775, $36,285 and $35,420.

Key resistance is set at the price of $38,200

Trading analysis offered by Complex Trader - a RobotFX partner.