02.07.201917:57 Forex Analysis & Reviews: BTC 07.02.2019 - Sell zone at the price of $10.600

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Industry news:

Binance, the world's largest cryptocurrency exchange by trading volume, is soon to launch futures trading.

During a presentation at the Asia Blockchain Summit in Taipei on Tuesday, Changpeng "CZ" Zhao, founder and CEO of the exchange, showcased a futures trading interface on Binance with features including longs and shorts on crypto assets.

.Trading recommendation:

BTC did exactly what I expected yesterday. BTC did test our first target at the price of $9.695 and after then rejected. Pay attention to the resistance at the price of $10.612 cause it is good sell zone up there.

Red rectangle – Support ($9.695)

Green rectangle- Support 2 ($9.200)

Purple rectangle – Resistance ($10.612)

MACD oscillator is showing the new momentum low in the background and the BTC is trading in the negative territory, which confirms my bearish view. RSI oscillator and Stochastic are showing the potential rally before new selling wave. As long as the BTC is trading below $11.376, I would watch for selling opportunities on the rallies, level of $10.612 looks like a solid sell zone. Downward targets are set at the price of $9.695 and $9200.

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