BITCOIN, Considering Reasons for SHORT & LONG

During the recent uptrend, the price was not able to break through the resistance at the $10180 level. Because of this fact, we didn't see the absorption of the downward movement. The left rectangle shows the size of the upward movement, and the right rectangle shows the size of a downward movement. As you can see, the left one is bigger than the right one - there was no absorption. Thus, the market priority is downward.

Support levels are: $9900 - $9745 - $9620. $9620 - the level of global support. Below this support, we have a $9745 level which will support the correctional 1-5 Elliott Waves. And higher, there is the $9900 support. This level is the only reason the price still didn't dump below $10000.

We have the following situation - if the $9900 support will be able to keep the price above (I mean the price will take hold above the $10040 level), then it can go higher to the $10180 and after breaking this level we will see a zone of $10300 - $10450. However, if the price will break through the $9900 level, we can expect Bitcoin to hit $9750 support soon.

• The main reasons for SHORT - there is no absorption of the downward movement, which means that SALES are in the priority.
  
• The main reasons for LONG - level $9900 holds the price above itself; there is still some time to finish the absorption of the downtrend.