Bitcoin is going to correct the downward movement because of the local reversal pattern and a convergence on RSI. However, when we look at the 1H chart, we see that the price broke down the downward channel and now the global vector is directed down.
The local upward correction can end now, but can go a little bit higher, to the zone of $10270 - $10470, where the ascending resistance is located. In case the price will re-test this resistance, the probability of falling lower than $10000 will increase up to 87%. Targets of the downward movement are $9760 - $9640.
The local upward correction can end now, but can go a little bit higher, to the zone of $10270 - $10470, where the ascending resistance is located. In case the price will re-test this resistance, the probability of falling lower than $10000 will increase up to 87%. Targets of the downward movement are $9760 - $9640.
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