Blorenz

If trend-line support breaks - 5k scenario likely

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
If we see a daily candle close in the yellow neutral-zone area, the 5k scenario becomes more likeley, as the next major trend-line support must then be tested - this would represent a long-term buy opportunity, for the eventual return to 10k levels.

alternatively we could see this support hold at 8k - and a break of the green trend-line resistance would indicate bullish reversal. (this would need to occur within the next 5 days for this to be possible, so we do not have muuch longer to wait.)

i will update this publication as the TA developes.

Best of luck!

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