BTC is trading inside of the downward channel. We didn't see any sign of the reversal yet so you should focus on the selling opportunties. Key resistance is set at the price of $8.095.
Yellow rectangle - resistance
Blue rectangle - support
Black lines – downward channel
Blue horizontal line – support 2
Broken upward trendline in the background and downward channel in the place. We got series of the lower lows and lower highs, which is sign of the downward trend.Resistance level is set at the price of $8.053 and the key support at the price of $7.430. Our advice is to watch for selling opportunities. Downward targets are set at the price of $7.430 and $6.996. Only if you see the breakout of the resistance at $8.095, watch for potential buying.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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