BTC has been trading downside as we expected yesterday. Our yesterday’s target at $8,046 has been met. Most recently, I found that bearish flag is in creation based on the 1H time-frame.
Purple lines – Bear flag
Purple falling line – Expected path
Green rectangle – Important support
My advice is to watch for selling opportunities on the BTC since it is still in the downtrend. The downward channel is active and there is more chance for downside. Potential downward targets are set at the price of $8,046 and $7,755.
The material has been provided by InstaForex Company – www.instaforex.com
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