After briefly dropping to 9000 a week ago, BTC recovered only to stall out at 13000 and reverse course. The past couple days have seen another test of 10000.
If the short-term-bear-trend remains valid, we will likely see another test (and possibly a break) of 10000 in the coming days. On the other hand, a close on the daily chart of above 13000 could suggest the beginnings of a short-term trend change.
If the short-term-bear-trend remains valid, we will likely see another test (and possibly a break) of 10000 in the coming days. On the other hand, a close on the daily chart of above 13000 could suggest the beginnings of a short-term trend change.
The bounce off of support at 10,000 has already lost momentum and the price range has been squeezing down. BTC could see some action sooner rather than later. At the moment, prices appear to be ready to test 10000 again. Between the unenthusiastic bounce and the fact that the downward trend seems to be holding, a break of support at 10000 would not be surprising. Another bounce is also possible, especially if we have another false break of support (say down to 9000 or lower) that is strongly rejected.