BTC News:
As fear grappled the king coin, another bearish factor that weighed in was the Net Network Growth signal. This momentum signal essentially indicated the coin's underlying network health by measuring the number of new addresses minus the addresses that have their balances emptied. According to IntoTheBlock's latest data, after a very long time, the Bitcoin network "didn't grow", rather, it lost over 450 thousand addresses.
Technical analysis:
BTC has been trading downwards. The price tested the level of $6.777 and confined the breakout of the bear flag (continuation-al pattern) on the 4H time-frame,
Trading recommendation:
Watch for selling opportunities on the rallies with the next downward targets set at the price of $5.817, $4.460 and $3.810.
MACD oscillator is showing downside reading, which is sign of the selling pressure.
Resistance levels are set at the price of $7.150 and $7.400.
Support levels and downward targets are set at the price of $5.817, $4.460 and $3.810.
