Black line -resistance
For a 3rd day Bitcoin price has made no real progress. After the sharp sell off from $24,000 to $20,800 Bitcoin has paused the decline and price is moving sideways. Bottoms are not formed in this way and that is why I give very little chances that we have seen the low in Bitcoin price. Bitcoin remains vulnerable to new lows below $17,600 as long as price is below the major resistance trend line. Bitcoin remains in a sideways price action with a slight positive slope. Bitcoin buyers will get another chance to buy Bitcoin at lower levels. This remains our key scenario.
