Considering the following:
So... I think the market will bounce up as I have shown, but will then, due to bad sentiment, return to retest the lower bound of the downward channel.
- Decreasing volume
Its looking like a move in the price of BTC will come soon.
- Oversold state on the RSI chart indicated in green tells me that the price will go upwards.
- The upper and lower bounds of the channel indicated with light blue lines tell me that the price will go up.
However market sentiment is poor at the moment following the bad news.
So... I think the market will bounce up as I have shown, but will then, due to bad sentiment, return to retest the lower bound of the downward channel.