SIMON_G

BTC/USD - Market Structure Broken, whats the next scenario?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hey guys, as you can see in the chart we have fallen out of the triangle which shows the market structure has broken down. This leaves us with 2 possible scenarios:

1) We test the 5866 USD line and bounce back up to test 6850 USD (which is the most likely scenario)
2) We fall below 5866 USD and test the next support line of 4341 USD

If we bounce I believe it is a good time to accumulate for some short gains but if we fall below 5866 then i would recommend to sell a portion to get back in at 4350 range.

Remember, DYOR!

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