Xatos
Short

BTC Due For ~$5,700??

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
There aren't a lot of support levels for BTC's current rate of descent. All heavy volume is selling, with the next support lines coming at $6,000. Anything below that suggest another drop to $5,700. It also appears to be rolling over on a double top .

I don't think there's a very strong case for a BTC in the near-term. I'm bearish and staying away until I see a reversal pattern.

There's a chance though that these lows will offer a entry-point on a reversal. Let's continue to chart and look for continuation or reversal patterns post-decline.

Comments

Looking back through your TA, and you have been spot on here on quite a few!
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Xatos ThriveHawk5
@ThriveHawk5, Thanks buddy I appreciate it.
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