Shortterm I expect BTC dropping to at least 8960 USD until it finds support again. 8960 USD is a former respected resistance also supported by two fib circles. Furthermore on the hourly chart it seems like it would perfectly hit the 55 EMA.
The dotted red line is a longer term resistance trend which supports that development.
Be aware that it might even break through 8960 USD and aim for a lower support level.
Developed a lot more bullish than I expected, but as you see the trend respects the blue fib circle very well and big got a rejection. We might still hit the target at some point during the day.
Also closely monitor the white fib circle now, it should act as a good support.
PS: Out of some reason I cannot update my idea, only comment on it. If you know how or why let me know!
Also closely monitor the white fib circle now, it should act as a good support.
PS: Out of some reason I cannot update my idea, only comment on it. If you know how or why let me know!