Locally, the situation is in favor of continuing the decline, at least within the short-term time horizon.
The strengthening of the dollar index, the decline in precious metals, are also on the side of the SHORT scenario for bitcoin. Local highs and lows are going down, have dropped out of the trend channel, and today we are witnessing a retest of the previously broken down support level – $ 11,300.
In theory, below $ 11,100, the fall may accelerate, in this situation we will see $ 10,000 – $ 10,500, the range where LONG will be relevant again!
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