BTC 10.24.2019 - Watch for selling opporutnities on the rally, nerw momneutm down on the MACD oscillator in the background

Bitcoin has been trading sideways at the price of 7.475 in the recent, 24 hours. I still expect more downside and potential of 6.610 in the next period but would wait for upward correction first.

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Green rectangle – Resistance and good sell zone

Blue horizontal line – Support line and downward objective

MACD is showing us strong new downside momentum in the background and I expect more downside after the bullish correction. Resistance level is found 7.780 and support level at 6.610.

Bollinger band middle line(resistance line) is set at 7.853



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Performed by Petar Jacimovic
Analytical expert
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