BTC 10.11.2019 – First downward target has been met, more downside yet to come

BTC is trading lower exactly what I expected yesterday. The price did test my first downward target at the level of 8,320. I do expect more downside and potential test of $8,139.

Red rectangle – Important resistance levels

Green rectangle – Important support levels and objectives

Purple falling line – Expected path

I found strong rejection of the major resistance at the price of 8,747 on the 1H time-frame and I do expect more downside yet to come. My advice is to watch for selling opportunities on the rallies. Watch for potential bear flag on hourly for new selling positions. Downward targets are set at the price of 8,139 and 7,805.

The material has been provided by InstaForex Company – www.instaforex.com

Rate this post
MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

Leave a Reply

Your email address will not be published. Required fields are marked *