Cryptocurrency Analysis

[IFX_Selena]

BTC 11.26.2019 - WEekly long term analysis, the level at $3.800 in play

Based on the weekly time-frame, I found that there is potential for the more downside and larger drop. I found very important Fibonacci expansion 61.8% at the price of $3.800 (main target).



MACD Oscillator is showing downside pressure in the background and it seems that there is no any reversal pattern yet to counter strong selling pressure.

Additionally, I found that BTC is trading inside of the downward channel and below the resistance trend line, which is another good confirmation for our short bias.

Resistance levels are set at:
$7.700
$9.850




Performed by Petar Jacimovic
Analytical expert
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