Short term drop.
After a long bull run, BTC is going to stabilize a little bit, Bears might take control short term and throw the prices back to 9900 level.
I drew a Gann Fan on the chart and it showed me that there's a good resistance line at around 11100, If it had broken out of it we could have seen 12000, but it didn't break out which means there will be a retracement and then sideways movements until we continue with the bullish trend.
RSI confirms this theory as it is showing evidence of a small retracement to 9950.
Disclaimer: This analysis is based on my thoughts and should be followed with your own responsibility.
I drew a Gann Fan on the chart and it showed me that there's a good resistance line at around 11100, If it had broken out of it we could have seen 12000, but it didn't break out which means there will be a retracement and then sideways movements until we continue with the bullish trend.
RSI confirms this theory as it is showing evidence of a small retracement to 9950.
Disclaimer: This analysis is based on my thoughts and should be followed with your own responsibility.
Disclaimer
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