FX.co ★ BTC 07.23.2019 - Down brerakout of 2-day balance

Industry news:

A U.K. financial watchdog is being impersonated in an email promoting a cryptocurrency scam.

Purporting to be sent from British regulator, the Financial Conduct Authority, the email touts a "guaranteed chance to earn" via cryptocurrency, FT Advisor reports Tuesday.

The message is dressed up with FCA and Bank of England logos, and sports a photo of physical cryptocurrencies – bitcoin, litecoin and XRP – over the British Union Jack flag.

Trading recommendation:

BTC did exactly what I expected yesterday. Sellers did join from the important resistance at $10.800. According to daily time-frame, there is the down break of the 2day balance, which is sign that sellers are in control. You should still watch for selling opportunities on the rallies.

Yellow rectangle – Key Resistance ($11.000)

Blue horizontal line- Support 1 ($9.083)

MACD oscillator is still showing the decreasing momentum and BTC which confirms my bearish view. Additionally, MACD oscillator is also showing that slow line did turn from bullish into bearish, which is another good confirmation for further downside. Bollinger % oscillator did show new momentum down few days ago, which is indication and BTC my at least try to re*visit the low at $9.083.BTC is trading inside of the downward channel (red lines), which is another confirmation of the downside pressure. Watch for selling opportunities with the first target at $9.083 as long as the BTC is trading below the $11.000.