$BITCOIN, Possible to See Local Bearish

Unfortunately, the price came back to the descending channel and was not able to take hold above the $9350 level. Therefore, the price is moving to the bearish phase until it re-tests horizontal levels (all mentioned on the chart) or tests descending support.

You can place SHORT orders below the $9350 level, targets are $9967, $8873, $8806. Also, I highly recommend you to read our previous update where we tell main statements about the current market. If we the price fixes above the $9350, we should consider opening LONG, so you know where to place your Stop Loss.

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We remind you that fixing in the zone above $9350 is a very bullish sign, and going beyond the resistance of $9650 is even more bullish, so monitor where the price is traded. To enter the trade, you need the proofs of the scenario, as now the stop losses will be made only in this way. So, you can not catch all the movement, but it is safer.

The market is very aggressive now. However, the bulls have a clear defence goal and it is a level of 23.6 % fib. at the level of $8967. Therefore, approaching this level, the price will push up.

The local exit into the downward channel did not succeed, so the bullish scenario is now becoming even more relevant.