BTC/DOLLAR 2H Chart

As we know, BTC is still in a downtrend. Within this downtrend we see a uptrend channel, bitcoin moved up slowly the past two weeks. In my opinion it has to retrace to build some momentum. The yellow ellipse would be a perfect support line. This is around 9700/10000 dollar. If this support line holds it will consolidate around that price. If it breaks downwards next support lines are 8300/8600 and 7800/8000.

Keep an eye on the next couple of days, BTC could hit a double bottom at 6000 or even lower.

This is not financial advice. If you have any feedback or remarks, feel free to leave a comment.