BTC analysis for July 02,.2020 – Bigger downside move is expected towards the level of $8.666

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Corona virus summary:

China’s local governments must increase testing capacity to prepare for potential outbreaks. Local institutions should ramp up and reserve coronavirus testing capacity in preparation for increased demand amid potential outbreaks, Reuters reports citing national health authorities.

Technical analysis:

Trading recommendation:

Watch for potential sellingopportunities due to completion of the mini abc upward correction and potential for bearish flag pattern breakout.

The downward targets are set at the price of $8,900 and $8,666

Stochastic oscillator is showing the overbought condition and fresh bear cross, which is another confirmation for our short bias..

The material has been provided by InstaForex Company – www.instaforex.com