FX.co ★ BTC analysis for 04.09.2020 - Potential drop on BTC is coming, the main objective is set at the price of $5.813

news:

Technical analysis:

BTC has been trading downwards as I expected. The price broke the Pitchfork mini upward channel and it gave us the first signal for the potential chage in the trend from bullish to bearish. My analysis from yesterday is still active and valid.

Watch for selling opportunities. The area around $7.500-$7.600 looks like good zone for sell posiitons.Downward targets are set at the price of $6.595 and $5.813.

MACD oscillator is showing decreasing on the upside momentum and the slow line turned to the downside, which is indication for potential change in the trend.

Major resistance pivot zone is set at $7.600-$8.000

Support levels are set at the price of $6.600 and $5.813