Bitcoin 4H time-frame:
Bitcoin is progressing well since my yesterdays down call and my analysis is still in the play. The 4-hour chart completed bear flag and I do expect more downside to come. I think that the growth potential of BTC is now limited. The first reason is another growth of the US dollar in world currency markets. In my opinion, most of the investors are investing in metals (Silver,Gold) and I don't see any big expansion in the Bitcoin yet.
Bitcoin Forecast and recommendations for traders:
Bitcoin is in overall consolidation phase but most recently I found bear flag below the downward slopping trendline, which is sign that there is chance for more downside and potential of $9,727 or $9,106. Thus, I recommend selling cryptocurrency with a target of $9,727, with a Stop Loss level of $10,700.
