FX.co ★ BTC 11.15.2019 - Downside pressure on the market, potential downward target at $7.500

BTC has been trading downwards, exactly what I expected yesterday. The price tested the level of $8.236 and is heading to test our main objective at the price of $7.506. Watch for selling opportunities on the rallies. Our short position from yesterday is still active

MACD oscillator is showing negative reading below the zero, which is sign that sellers are in control.

The cause of the most recent downside was in my opinion big climatic action from days ago and gap fill.

Major support level is seen at the price of $7.506 and solid intraday resistance at the price of $8.800.