i'm a newbie in this trading, i learn about this trending line just around 2 weeks ago :D. so... this is just my 2 cent.
looking at the daily chart interval, in my humble opinion BTC still can go down to $9.500 in the next two days. as you can see on the chart, BTC already break support 1 and 2, and i believe in the next 2 days, btc will tested support 3. i hope support 3 can survive btc rage... :D.
and i think BTC will going up again in 31 December :D
Happy Holiday and Happy New Year :D
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lets see, if they can stop at $12.000. so we have strong support at $12.000. but still not impossible btc can goes down to $9.500.
for my self, i just wait and see until end of this year :D.