BTC Date 16-12

Yesterday I mentioned that BTC is still moving within a descending channel and warned that if it gets rejected at the upper trendline, the price could reverse downwards.

👉 In fact, today BTC has dumped right from that area and touched the bottom of the channel.

📉 Current situation

BTC is holding around the support area of 85k8.

The downtrend structure has not been broken yet.

Buying pressure is trying to defend this area.

🔴 Negative scenario (Bearish continuation)

Selling pressure may increase.

Next target: 84.8k → 83.5k.

➡️ Breaking the bottom of the channel = downtrend continues.

🟢 Recovery scenario (Bounce scenario)

Nice LONG entry in the area of 82k5-83k3