Now looking for some consolidation or a bit of a pullback, probably to below the rising blue line.
The retracement levels (red lines) should be support areas, short term.
Whether the short term levels will hold or if we need to look at the larger swing levels will be revealed by the price action.
Once a low for this move has been established, the ensuing rally should exceed the previous highs at 11780 and 11989.
A look at the 1 hr chart. No indication of a bottom yet.
During last drop from $10,100 to $9,560, altcoins weren’t affected in $BTC value. This is a clear sign that it’s reversal time. Accumulation now for $BTC and space for altcoins.