Bitcoin continues to go down. As mentioned yesterday, the first target for the BTC was the support around the psychological barrier on the 11k. Bitcoin went there but it was not enough for the bears, they continued to sell, pushing the price even lower, below another psychological barrier – 10k. How deep we can still go on Bitcoin? The next potential target is around 8,7k USD. Why there? Well, for this estimation, we used the impulse equality pattern. Those light blue rectangles are the same, so we are looking for the same movement that happened in the middle of December.
