$BTC sold off at the intersection of the 0.5 Fibonacci level and the top of the correction channel. This is exactly the same price action I mentioned in my previous post. So what will happen next?
There is not much to talk about for the bullish scenario, $92500 price level should definitely not be broken and we need to see $99963.70 and then 100K levels break upwards.
In the bearish scenario, the declines should continue, the supports at $99963.70 and then $92232.54 should be broken. In such a case, the minimum target will be around 85K.
Bearish scenario seems to be the most likely to happen at the moment.
