BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello guys,
I pay attention to the price of BTC considering it's on the lower limit of the congestion:
the support is in $8800/$8750 area. If this support would be broken, prices could go to $8300 as first step
and $7900 second step.

Indicators, as you can see in the chart, confirm weakness of prices.

***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
Trade closed: target reached: As forecasted BTCUSD, during the night, reached the second target in $7900 area.
At the moment BTC seems to not have enough strength to rebound from this area: this weakness is underlined by indicators, expecially stochastic.
If this area would be broken, prices could slip to $7500 area before and $7200 after with possible extention to $6900.
The chart doesn't suggest us any other safe trade on this cross, at the moment.
We have to wait and see for another good trade.

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