The BTC course is already at a low of $95,700 and - with a new Strong Signal low on the hourly timeframe.
Not the best 'Dragon' we were waiting for, but the figure has not been broken yet. If it is not broken in the next 40 minutes, the candle could become a reversal, as was the case with a similar one earlier in the morning. It is critically important to approach the descending trend line from December 17 to the first reversal signals on the hourly timeframe (as happened with the last touch of the trend line) on the bounce. Then there will be high chances for a breakout and working out the figure.
The correction is much stronger than expected, although the low of December 9 has still not been updated. The 200 EMA of the four-hour timeframe is currently acting as support. However, the 50 EMA of the 12-hour timeframe has been broken. But there are still 3.5 hours until closing. Let’s remember, the candle has not closed below this moving average since October 9.
Overall, since it has pulled down so low - the best sign today would be to close the daily candle above the volume level of $98,433. That’s approximately where the 50 EMA of the 12-hour timeframe is now.
If the decline continues and the asset transitions into a stable downtrend on the 12-hour timeframe, breaking the 'Dragon' - this will open the way to the extreme base target around $88,000, with an intermediate target around $92,000. For now, the perspective on the 'Dragon' is strong - we are not expecting such a decline.
