FX.co ★ BTC 10.25.2019 - Sell zone for Bitcoin, bearish flag in play

Bitcoin has been trading upwards exactly what we expected yesterday. The level around 7.700 looks very attractive for potential selling opportunities. I expect more downside and potential test of 6.610.

Green rectangle – Resistance and good sell zone

Blue horizontal line – Support line and downward objective

Rising purple trend lines – Bear flag in creation

MACD is showing us strong new downside momentum in the background and I expect more downside after the bullish correction. Resistance level is found 7.700 and support level at 6.610. Bollinger band middle line(resistance line) is set at 7.635