After the bull run that happened up to 26th June we have been consolidating in a downwards channel until 24th October's surge. We are now finishing a descending pennant pattern, that will be over by the end of 21st November. Bullish target is 9.5K while bearish target is 7.9K, with a slight bullish bias.
The death cross on weekly chart and a slight bearish divergence shows us s bigger probability of breaking on the downside and retesting lower resistance zones. Expect a retrace till rsi reaches the 30 levels, for a double bounce, just like in previous bear market. Bearsih short term but bullish mid term
BTC is continuing the movement to the top of the channel. Expect a bounce + fib pullback around the top levels, probably a good place to set a stop sell. Volume still too low to have a breakout of channel.