FX.co ★ BTC analysis for September 07,.2020 - Sellers in control and there is potential for bigger drop towards the $8.230

As I discussed in the previous review, the BTC is in creation of the second down leg in my opinion and our second target at the price of $9,921 has been met.

Further Development

I still see further downside on the BTC with potetnial for test of third and fourth targets at $8,975 and $8.228

I didn't find any reversal pattern yet and the short-term target shifted from bullish to bearish.

The 1H and 4H time-frame combination is serving good for selling on the rallies and from the middle Bollinger band.

Key Levels:

Resistance: $10,800

Support levels: $8,975 and $8.228