The retreat from $9,090 to $8,750 has established the Jan. 17 low of $9,017.41 as strong resistance
A daily close above the trendline would confirm bearish-to-bullish trend change and could yield rally to $11,695 (Jan. 28 high). A violation there would expose resistance at $12,500 (Dec. 30 low)
Bearish scenario: Rejection at trendline followed by a 4-hour close below $7,540 (Feb. 2 low) would shift attention to $5,873 (Feb. 6 low).
A daily close above the trendline would confirm bearish-to-bullish trend change and could yield rally to $11,695 (Jan. 28 high). A violation there would expose resistance at $12,500 (Dec. 30 low)
Bearish scenario: Rejection at trendline followed by a 4-hour close below $7,540 (Feb. 2 low) would shift attention to $5,873 (Feb. 6 low).
BTC could test the $10,000 mark in the short-run
On the downside, a daily close below $7,724.9 (Feb. 9 low) would add credence to bearish weekly chart and could yield a drop to $5,000.
so far all signals are positive.