Bearish divergence as mentioned in my previous analysis on Bitcoin has successfully played out over the last 24 hours, resulting in price levels plummeting towards $9,000 support. source
If you've been following the 30 Minute chart, you'll realize that some decent highs in last week. In the last few horse, the prices has dropped significantly which is roughly $9,543.42 (at the time of this writing). That being said, we're likely to experience more drops in the coming days in an attempt to support $9,000.
Most crypto traders have been selling their bitcoins before it dips more. This is true considering the red volume spikes from the image above.
It would likely take a larger red volume spike like this to cause the rising support around $9,000 to break, as there are a lot of resting orders around this price level. This was also mentioned in a previous analysis.
