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20.11.201916:22 Forex Analysis & Reviews: BTC 11.20.2019 - Watch for selling oportunites on the rallies

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BTC has been trading sideways in past 24 hours and I do expect more downside but after the rally. My advice is to watch for sell zone around $8.240-$8.300 with the target at the price of $7.500.

The short-term trend is still downside and there is no indication of any reversal yet, which is clear indication that sellers are in control. Downward sloping trend line would act like resistance and you should pay attention to that.

MACD oscillator is showing negative reading below the zero and slow line is in negative territory, which adds more downside potential.

Petar Jacimovic
Analytical expert of InstaForex
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