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10.07.202013:55 Forex Analysis & Reviews: BTC analysis for July 10,.2020 - Fake breakout of the supply trendline and potential for the bigger drop towards the $7.800

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Technical analysis:

BTC has been trading downwards and it confirmed the fake breakout for the supply trend line, which is indication for the further downside movement. I see further drop on BTC towards the $8,000 level.

Trading recommendation:

Based on the 4H time-frame price action chart, I found that there is fake breakout of the resistance at the price of $9,400, which is big clue that sellers took control over buyers.

Watch for selling opportunities on the rallies using the intraday charts like 15/30 minutes for better entry location.

Downward reference and target is set at $7,800

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