Price is inside a bearish triangle pattern within the higher timeframe bearish descending channel with a strong resistance level above. Although Bitcoin’s price could rise to $10.6k, the expectation is for price to break and push lower at least to $9.3k, where a major support level is located, which would be a nice place to buy.

The support level might also be the point in which we’ll see Bitcoin rise strongly and break the long-term channel to the upside that could bring really higher prices on the table again.

Let me know what you think in the comments below and thank you for reading!