BitcoinCensus

BTC is Headed Lower Then A Bounce

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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$BTC looks like it is heading lower and then it likely to bounce.

I am working on building my ability to anticipate where and when $BTC price will be, not just direction and trigger points. This is highly experimental but I have plotted what I think is where it will go if it does not bounce. To me the odds appear to favor lower followed by a bounce (green arrow side of the blue line) but if instead it breaks through the support level I have plotted (thick red horizontal line) then I would expect price to follow the blue line lower (red arrow side of blue line).

Because I expect Bitcoin price to fall and then bounce I have to make this a neutral call.

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