$BTC/$USD Downtrend Channel.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
$BTC continues its short term downtrend for the immediate moment, expect this movement to continue over the next 24-48 hours & possibly beyond.

If a break occurs within the next 48 hours, Bullish target sits within 16000 range; if Bearish pulldown continues, expect a cascade further down the channel, or a complete break, with a target in the 15000 range.

Comment: Welp, channel's broke. 15000 is coming much sooner than expected. Most Alts are suffering & sentiment is low. Now is a great time to be well diversified in your portfolio.

We could see some infighting as BTC struggles to regain Bullish momentum as it trails along the Channel Support which has now become Descending Resistance.

A consolidation period is important here, if Alts regaining bullish moment is of concern.
Trade closed: target reached: Target hit earlier than expected. Significant support below rests at 14500 and 14000.

A break below, is an attempt to test 12000.


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