From what I think and see, we have set a new local trend down on BTCUSD. We have failed to make a new high over and over. Also with today's low, we created a new local low on this trend down.
I am personally looking to reach the 1.0 on the trend based fib extension at around $8,865. We are currently failing the $10,665 area, but so far holding the $10,300 support area. I believe we will break down further, but to reverse this local trend, we must not break below the $9,950 low we created and also break above $11,185.5.
I will post a long term outlook below in the comments.
I am personally looking to reach the 1.0 on the trend based fib extension at around $8,865. We are currently failing the $10,665 area, but so far holding the $10,300 support area. I believe we will break down further, but to reverse this local trend, we must not break below the $9,950 low we created and also break above $11,185.5.
I will post a long term outlook below in the comments.