BTC has broken from its downtrend channel and is currently dipping down to retest it as a resistance. If it succeeds and bounces we will go upwards to 11,700 with almost no stop then further upwards to 13+
If BTC fails to hold the channel at 10,200 then we will drop below the pyschological level of 10,000 and we will rest on our last support of 9400 ish.
as the middle of the bollinger band passes over the channel we have confirmation above the descending channel and a more likely bounce than a dip.
For educational purposes this would be one indicator for a buy, a second would be when the RSI reaches oversold and starts trend reversal and the third would be being at the bottom of the bollinger band( which I think will be unlikely in this case)
If BTC fails to hold the channel at 10,200 then we will drop below the pyschological level of 10,000 and we will rest on our last support of 9400 ish.
as the middle of the bollinger band passes over the channel we have confirmation above the descending channel and a more likely bounce than a dip.
For educational purposes this would be one indicator for a buy, a second would be when the RSI reaches oversold and starts trend reversal and the third would be being at the bottom of the bollinger band( which I think will be unlikely in this case)