BTC to 10.8K

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BTC has been moving inside a channel since early September and it’s still bound to it.
The upper trend-line of the channel has been touched and it was rejected with a rather big volume .

Here are the bearish signals that support a downward movement to around 10.8K:

Head and Shoulders pattern on 4H
– Considerable divergence on 4H doing its dirty work
RSI below 50 and pointing down
Stochastic gaining bearish momentum
CME gap around 11K pulling the price down like a magnet

This is the third time in this channel that a H&Sh with these characteristics occurs and every time BTC touched
the lower trend-line. The marked yellow area is the target for our short position.

DO YOUR OWN ANALYSIS BEFORE ENTERING A POSTION

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