FX.co ★ BTC 10.01.2019 - Sell zone for Bitcoin, bearish divergence on the MACD

BTC is trading near the important resistance levels at the price of $8,629 and $8,800, which is sign that there is potential for reaction from sellers. I do expect more downside in the next period.

Red rectangles – Resistance levels

Falling purple line – Expected path

Green rectangle – Support and downward target

MACD oscillator is showing bearish divergence on the last move up on BTC, which is sign that buyers are losing power and that sellers may react. Resistance levels are set at $8,629 and $8,800. Support level is set at the price of $7,750. Watch for selling opportunities.