BTC has been trading exactly what I expected yesterday. The price did test the level of 1.779 and almost reached our target. Anyway, due to strong drop in the background, there is still chance for more downside.
Green rectangles – Support levels
Purple rising lines – Broken bearish flag
Falling purple line – Expected path
.My advice is to watch for selling opportunities on the rallies with the downward target at the price of 7.738. MACD is still in negative territory below the zero, which is good sign that sellers are in control. The potential breakout of support at 7.700 may lead us for potential test of 7.745.
