Tendorian
Short

Bitcoin 21st May - Down we go

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I have decided to just use the 12H charts as you can time longer term trends better.

Bitcoin is at an inflection point, yes we can either go up or down, but down is more likely. If it was to go up then I want to see a close above the 30 EMA on the 12H chart.
The next obvious support is at 7400.
Comment: Pretty much all alt coins are also at the same inflection point waiting to go down.
Comment:

Temporary support reached, sideways before the next move, most likely down.
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