5-day MA, 10-day MA still trend north - bullish set up.
oversold RSI on 1-hour.
So, spot likely to hold 1.4005 (38.2% Fib) on closing basis.
Target 1.41
Stops below 1.3970
Upside move ran out of steam near $11,700 over the weekend.
Prices now trading below the rising trend line, signaling continuation of the bigger sell-off from $20K.
Immediate downside - $10K likely. Beneath $9005 exposed.
Upside - clear break abv. $11,700 will revive love for BTC.
Correction likely due to bearish RSI divergence, Bearish pinbar (last Wednesday's candle).
Momentum studies - 5-DMA, 10-DMA trend north - favor bulls.
0.7281 (23.6% of Nov Jan rally) could be tested.
Close below 10-day MA to confirm top in place at 0.7436.