Bitcoin made a small rally on Wednesday but is still between support and resistance areas.
Although it rallied, the possibly scenarios remain the same as yesterday since the move up was very small.
If price rallies we can expect the flip zone to provide some resistance, and if broken, price could rally up to the resistance level around $11,500.
If price continues to drop, the next support level is around $8,000.
There is also divergence between price and the RSI , which could mean that the sellers are running out of steam.
Although it rallied, the possibly scenarios remain the same as yesterday since the move up was very small.
If price rallies we can expect the flip zone to provide some resistance, and if broken, price could rally up to the resistance level around $11,500.
If price continues to drop, the next support level is around $8,000.
There is also divergence between price and the RSI , which could mean that the sellers are running out of steam.