Price Bitcoin can prepare for sale due to the fact that she has broken the short-term channel support, and is currently testing the next inflection point .
Key points
Earlier in short timeframes Bitcoin price trend has been to increase the price move inside the ascending channel, the observed 30-minute and 1-hour charts.
Price deviated during resistance test, and paved the way down to the support of the channel - as expected.
However, support is not broke down and was broken, which indicates a possible reversal of the uptrend down.
Signals of technical indicators
SMA 100 is still above the long 200 SMA, so that the chance of bounce is maintained. However, the price has fallen below the 100 SMA dynamic support and seems ready to break below the 200 SMA, which sets the stage for a potential crossing down.
Stochastic deep in oversold, which means that sellers are beginning to run out of power. Oscillator yet to cross up and get out of the oversold before it will return impulse buyers. If there will be a rebound, the price of Bitcoin can simply retest the breached channel support near $ 590 before resuming the decline.
