BTC has been trading downwards as I expected. The first downward target from previous forecast has been met at the price of $9,610. If the price breaks the level of $9.610, next support will be set at the price of $9.265
Blue horizontal lines – Support levels based on the price action
Blue rectangle – Major resistance level
MACD oscillator is trying to establish new momentum low, which is sign that buying looks risky at this stage. Watch for potential breakout of the $9,610 to confirm further downside continuation and potential test of $9,265. Based on the 4H time-frame, I found series of the lower lows and lower highs, which is sign of the bearish trend.I don't see any reversal yet.
