Chart shows that taking into consideration the bullish trend and drawing out parallel trend lines brings us to the conclusion that the next couple of hours will show us whether BTC will drop to possibly $8,000 or witness a bullish reversal and return to last week's position.
BTC needs a reversal confirmation, be it a double bottom or inverted head & shoulders, to give us direction to where it is heading next. We know that BTC Futures contract ended yesterday at $10,900 and has relieved some pressure off BTC and other altcoins.
Trade closed: target reached
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BTC went off-track from bearish trend. Question is whether it will keep this up and go higher.