12.11.201917:19 Forex Analysis & Reviews: BTC 11.12.2019 -Broken bear flag pattern, more downside yet to come

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Bitcoin is poised to go down. I do expect new downside leg due to the breakout of bear flag pattern on the 4h time-frame. Watch for selling opportunities with the main target at $7.506.

MACD is trading below the zero in the negative territory, which is sign that sellers are in control. In the background, I found that there is filled gap, which is another strong sign that sellers are in control. Bollinger band mid-lane served like a good resistance at $8.850. Main downward target is set at $7.506.

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