As #BTC Is Now Testing 200P MA, Sellers Could Come In With Force
Bitcoin is at the crossroad where long and short traders face off. It is likely major sellers would show up with full force between 10.5-12.0k range, as mid-to-long term trend is still downside. If sellers get the upper hand, they could drive the price down to around 3.8k.
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Is Now the Bull Reversal? Not until we get price to break out from $9995. Until this happens, we are still in bear territory.
As long as price prints below $10,500 on any upmove, downward pressure is still very much active and would continue the gradual move toward 3800.