Bitcoin continues descending resistance, potential bearish drop!

Bitcoin has tested our descending resistance and continues to test major resistance at 11790 (61.8% Fibonacci retracement, horizontal overlap resistance, long term descending resistance line) where a strong reaction could occur at this level to push price down towards 9470 support (Fibonacci extension, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

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