BTC 12.03.2019 – Broken bearish flag in the overall downward trend

By | December 3, 2019
InstaForex

Relevance up to 06:00 2019-12-04 UTC–8

BTC has been trading sideways at the price of $7.292. The overall trend is still bearish and my advice is still to watch for selling opportunities. Downward targets are set at the price of $6.846 and $6.560.

Ichimoku Indicator analysis:

analytics5de670553eea8.jpg

There is Kijun-Tenkan bear cross on the 4H time-frame, which is good indication for the further downside. I would watch for potential breakout of mini-support at the price of $7.200 to confirm downside continuiation and eventual test of $6.546 and $6.560.

Resistance levels are seen at the price of $7.350 and $7.667.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2019

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