Since the post halving, Bitcoin has rejected 10k four times along the diagonal resistance. With that, Bitcoin is forming a symmetrical triangle pattern which represents a period of consolidation before the price is forced to breakout or breakdown.
A breakdown from the lower trend line would mark the start of a new bearish trend, while a breakout from the upper trend line indicates the start of a new bullish trend.
I see three possible outcomes:
Consolidation here to breakout of the triangle, price will push upwards to 10,300-10,500 (96-9700 still a heavy resistance, however, a break would not be surprising if we do see that leg up)
It is possible to see one more retest of that support line and consolidation between 9150 - 9300 - before another leg up.
Siding with the bears: The structure will be broken as the price closes below support trend line. In that case, another leg down to touch 84-8600 level is pretty clear.
A breakdown from the lower trend line would mark the start of a new bearish trend, while a breakout from the upper trend line indicates the start of a new bullish trend.
I see three possible outcomes:
Consolidation here to breakout of the triangle, price will push upwards to 10,300-10,500 (96-9700 still a heavy resistance, however, a break would not be surprising if we do see that leg up)
It is possible to see one more retest of that support line and consolidation between 9150 - 9300 - before another leg up.
Siding with the bears: The structure will be broken as the price closes below support trend line. In that case, another leg down to touch 84-8600 level is pretty clear.