Bitcoin is still trading in the sideways regime at the price of $10,200 with no clear direction. Anyway, the downward channel is in control and do expect more downside on the Bitcoin and potential test of $9,850.
Downward purple lines – Downward channel
Yellow rectangle – Support level and potential downward target
Falling purple line – Expected path
My advice is to watch potential selling opportunities on the BTC due because the downward channel is still in control and new selling is expected. I found the breakout of the larger Pitchfork upward channel, which is another confirmation of the downward movement. Selling opportunities are preferable with the target at $9,850 and stop at $10,550.
