Good news is that the price is perfectly in the down channel pattern, however the price could still go down if the price gets rejected by the previous trend.
Stochastic is also in the overbought zone and is beginning to cross so there is a high possibility that we could be seeing some more downward action, but we are still fine as long as BTC bounces back and stays within the down channel pattern. To add to that there was also a big long wick signaling a potential reversal to the downside.
These are just my personal ideas and what I think might play out in the next few hours. Any feedbacks will be greatly appreciated. Take care and good luck out there!
Stochastic is also in the overbought zone and is beginning to cross so there is a high possibility that we could be seeing some more downward action, but we are still fine as long as BTC bounces back and stays within the down channel pattern. To add to that there was also a big long wick signaling a potential reversal to the downside.
These are just my personal ideas and what I think might play out in the next few hours. Any feedbacks will be greatly appreciated. Take care and good luck out there!