BTC. First objective has been met, more downside on break

BTC has been trading downwards as I expected. The first downward target from previous forecast has been met at the price of $9,610. If the price breaks the level of $9.610, next support will be set at the price of $9.265

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Blue horizontal lines – Support levels based on the price action

Blue rectangle – Major resistance level

MACD oscillator is trying to establish new momentum low, which is sign that buying looks risky at this stage. Watch for potential breakout of the $9,610 to confirm further downside continuation and potential test of $9,265. Based on the 4H time-frame, I found series of the lower lows and lower highs, which is sign of the bearish trend.I don't see any reversal yet.



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Performed by Petar Jacimovic
Analytical expert
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