BTC. Downward channel in control, selling opportunities are preferable
17 September 2019

Bitcoin is still trading in the sideways regime at the price of $10,200 with no clear direction. Anyway, the downward channel is in control and do expect more downside on the Bitcoin and potential test of $9,850.

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Downward purple lines – Downward channel

Yellow rectangle – Support level and potential downward target

Falling purple line – Expected path

My advice is to watch potential selling opportunities on the BTC due because the downward channel is still in control and new selling is expected. I found the breakout of the larger Pitchfork upward channel, which is another confirmation of the downward movement. Selling opportunities are preferable with the target at $9,850 and stop at $10,550.


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Performed by Petar Jacimovic
Analytical expert
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