FX.co ★ BTC analysis for 02.011.2020 - Mini sell signal due to breakout of Pitchfork upward channel, watch for test of $9.060

Industry news:

The infamous PlusToken Ponzi scam that resulted in investors losing over $3 billion in cryptocurrencies like Bitcoin [BTC] and Ethereum [ETC] has reared its ugly head again. After a short hiatus, the scam artists have re-surfaced and moved $117 million in Bitcoin, within their addresses.

Technical analysis:

BTC has been trading sideways at the price of $9.800. Another stronger rejection of the Pitchfork median line was the key for the recent downside movement together with the lack of demand around $10.000

Watch for selling opportunities if you see the breakout of $9.685 with targets at $9.060 and $8.220.

MACD oscillator is showing decreasing on the buying power, which adds confirmation for further downside.

Major resistance is set at the price of $10.185

Support levels are seen at the price of $9.060 and $8.220.