Bitcoin 4H time-frame:
Bitcoin is trading sideways at the price of $10,150 but still in the overall downtrend. The 4-hour chart completed bear flag and I do expect more downside to come. The main supply trendline is on the test ($10,200) again and this should provide solid sell area. I don't see any signs of the reversal yet and I would avoid the bullish entries.
Bitcoin Forecast and recommendations for traders:
Bitcoin is in overall consolidation phase but most recently I found confirmed 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.Daily pivot points
S3 S2 S1 Pivot R1 R2 R3
| 9709.52 | 9920.18 | 10025.23 | 10130.84 | 10235.89 | 10341.5 | 10552.16 |
