BITCOIN Critical point. $12000 or $8500?

As the title suggests, Bitcoin is on a critical short term path. The 9600 - 10000 zone will decide whether the price will rise to 12000 or extend the decline to 8500.

The 1D Channel Down is dictating the direction and a break to 12000 will be a new Lower High and is possible as the fractals are so far very similar.

However, since the 11000 - 11100 4H Resistance rejected the upside last week, we have an equally strong probability to extend the decline to a new Lower Low within the 1D Channel Down near 8500.

This is only the short term picture as long term BTC is heavily bullish having entered this year the new Bull Cycle.

Note that the 2nd scenario (decline towards 8500) matches the bias suggested by this comparison (June/ July 2019 against December/ January, February 2018) below: