BITCOIN, Chances of going UP are really small..

The local trend of the Bitcoin chart was changed from the upward to the downward. Even though the price has formed a bullish pattern - inverse H&S, the price is located below the support level which breaks this pattern and makes it invalid. Sellers are much stronger than buyers.

At the moment the price is located at an important level - $10400. From this level, we can go upward to retest the local resistance at the $11000 level. However, we another option too and it has much more chances to happen: the support will be broken and the price will fall lower to the next support which is located at the $9650 level. At the current moment, the chances of going downward are about 89% - 90%. To confidently break $11000 and go further upward, we need to do it before the closure of the American Session and opening of the Asian Session.

If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!