16.10.201917:12 Forex Analysis & Reviews: BTC 10.16.2019 -Sellers in control, broken HSS pattern

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BTC has been trading exactly what I expected yesterday. My first downward target at the price of 8.072 has been met. New momentum down is still present and I would watch for potential exit near the 7.723.

Red rectangle – Important resistance level

Green rectangles – Important support level

Falling purple line – Expected path

MACD is showing new momentum low, which is sign that sellers are in control. Watch for potential rally back into the 8.060 for new selling opportunities. Next downward target is set at the price of 7.723.

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