BTC correcting back to channel

Btc daily has been rejected by 200 MA trying to hold onto 8500 level. I am directional biased toward lower levels once’s prior swing low is taken, BTC will shoot toward lower channel. What will cancel this analysis is that we have a clean break above 9200 and break prior high of 9900. We may have a break above 9200 just to fill the sellers liquidity pool. Either way, short term bearish

Comment:

Update: The Market structure is still intact and if the day close as is today, we have effectively fired off a lower high, and likely to see a continuation pattern toward the lower level of this channel whilst RSI has plenty of room to run.

3 Key level to watch for: 8200-8300 level (weaker support), 7600-7700 level for 50 Day MA, and FIB 0.382, 6880.

Stay tuned and be patient!

Comment:

Sent an update with lower time frame to see what is going on intraday.

Comment:

Patience is key here. We have yet breaking out of my channel, and we are retesting 200 day MA again.