BTC. Major resistnace on the test
03 September 2019

Bitcoin Daily:
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According to the daily time-frame I found that BTC is approaching strong resistance zone at $10.800-$11.200. I would be very careful going long near the critical resistance. I would watch for selling opportunities near these levels and potential downward reaction.

Black horizontal line – important resistance level

Red horizontal line – Resistance 2

Purple downward sloping line – Moving resistance

My advice is to watch for potential bear divergence on 4H time-frame and try to sell near the critical resistance zone $10.800-$11.200. Only in case of the strong upward break I would watch for long positions. The level at $10.300 looks decent for first downward target and then $9.950.



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Performed by Petar Jacimovic
Analytical expert
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