Bitcoin 4H time-frame:
Bitcoin is correcting upward in past few hours but there is good resistance around $9,760, which may be the good level to re-sell BTC. The 4-hour chart completed bear flag in the background and the BTC price is very close to Bollinger middle line, which is another good entry sell zone. I still think that demand for BTC is very low and that most investors are focusing on the metal market.
Forecast and recommendations for traders:
MACD oscillator is showed us the new momentum down on the most recent down swing, which is good confirmation for our short bias .I recommend selling cryptocurrency with a target of $9,108 with a Stop Loss level of $10,300The material has been provided by InstaForex Company – www.instaforex.com