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03.07.202013:45 Forex Analysis & Reviews: BTC analysis for July 03,.2020 - The drop has started as I expected. Watch for bigger drop in the future towards the $8.666

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Corona virus summary:

Cases of coronavirus are surging in South Africa, exactly a month after the country lifted most of the restrictions brought in with one of the world's strictest lockdowns, writes Jason Burke, the Guardian's Africa correspondent.

On Thursday, authorities reported the country's biggest single-day jump in corona-virus cases, adding 8,728 confirmed infections and taking the total count to 168,061.

Technical analysis:

BTC has been trading downwards as I expected. BTC finally broken the bear flag pattern and completed the ABC upward correction. I see more downside movement yet to come.

Trading recommendation:

Watch for selling opportunities on the rallies with the targets at $8,900 and $8,666

Stochastic oscillator is showing fresh new bear cross, which is another indication of the selling continuation.

Downward targets are set at $8,900, $8,666 and $8,170

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