FX.co ★ BTC 10.08.2019 - Sell zone for Bitcoin, bearish flag in creation

BTC has been trading sideways at the price of $8,190. Anyway,I found that bearish flag is in creation based on the 1H time-frame and that there is possibility for more downside.

Purple lines – Bear flag

Purple falling line – Expected path

Green rectangle – Important support levels

Red Rectangle – Resistance zone

My advice is to watch for selling opportunities on the BTC since it is still in the downtrend. The downward channel is active and there is more chance for downside. Potential downward targets are set at the price of $8,054 and $7,770.