Bulls have to step in to defend their territory, otherwise a much deeper correction will occur.
If the third test of the descending wedge resistance does not lead to an upward breakout, the 8500$ zone around the rising trend support line will likely to be broken.
Not a financial advice.
Price is trending below trendlines, bulls are exausted. bears taken control again.
next dip below 6300 USDT.
it is proceeding toward narrow end. expected by end of Year - Nov/Dec it will breach upward trendline and set new high.
accumulate zone is below 6300. even before explosion, you buy below 10000 will also give you x times benefit.
it is Monthly TF.
I personally believe bitcoin is creating a falling wedge pattern
this is my personal opinion so do some research and then invest your money .
Disclaimer: This information is for educational purposes only invest at your own risk !!