BTC is trading lower exactly what I expected yesterday.My analysis from yesterday is still active and I still expect more downside in the future and potential test of $7,730.
Red rectangle – Important resistance levels
Green rectangle – Important support and objective
Purple falling line – Expected path
I found broken bearish flag in the background based on the 1H time-frame and I do expect more downside yet to come. My advice is to watch for selling opportunities due to rejection of the important resistance level at $8,500 and the broken bearish flag most recently. The downward target is set at the price of $7,730.
