FX.co ★ BTC analysis for July 30,.2020 - ABC downside correction in creation, potential for downside first towards the $10.475

Technical analysis:

BTC has been trading downwards in the past 10 hours towards the level of $10,900.I see BTC in potential ABC correction with the potential for test of $10,785 and $10,475.

Trading recommendation:

Watch for selling opportunities on the rallies due to the C leg in creation and potential for the test of $10,475

BTC failed to test the high at $11,450 and that caused the sellers to come in.

Downward targets are set at the price of $10,785 and $10,475

Resistance level is set at the price of $11,330