FX.co ★ BTC 08.29.2019 - First downward target is met, potential for second target

Bitcoin 4H time-frame:

Bitcoin has been trading downwards exactly what I expected. Our first downward target is reached at the price of $9727 and there is potential for the test of the second target at $9,110. The 4-hour chart bear flag in the background. was the trigger for sellers as I expected..I don't see any signs of the reversal yet and I would avoid the bullish entries. Bitcoin

Forecast and recommendations for traders:

Bitcoin is in overall downward trend and I found increase in the downward momentum on the MACD oscillator,, which is sign that there is chance for more downside and potential test of our second target at $9,110. If you are still holding sell position from yesterday, it is good level to exit partial or at least secure on the breakeven. If you didn't take sell yesterday, you would need to wait some sort of upward correction on 4H time-frame to re-join. The level around $9,727 looks decent to do new selling.