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BTC analysis for February 08,.2022 - Watch for the breakout

Technical analysis:


BTC has been trading today and there is the rejection of the key resistance at $45,400. I see further downside movement towards the lower reference point.

Trading recommendation:

Due to rejection of key resistance in the background at $45,400, my advice is to watch for selling opportunities on the rallies.

Downside objective is set at $41,640.

Anyway, in case of the upside breakout of resistance at $45,620, watch for upside opportunities with the upside objective at $47,000

Trading analysis offered by Complex Trader - a RobotFX partner.