BTC price has been trading downwards as we expected. The price tested the level of $7.650. Anyway, we are still expecting more downside on BTC due to strong downward momentum in the background. Our analysis from yesterday didn't change much.
Blue rectangle – support $7.416
Punc rectangle- Downward target and support $7.000
BTC did break of the support trendline and on that way confirmed further downward movement. MACD oscillator again started to increase on the downside, which is another sign of the strong bearish trend. Downward targets are set at the price of $7.416 and $7.000. Resistance levels are set at the price of $7.982 and $8.246.There are still no signs of any reversal and we found only continuation patterns, which is sign of the strong downward trend.
