MichaelHenke
Short

BTCUSD Next resistance around 8500 & 8000

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We broke into and below both downward channels and fell through a key resistance level . If we don't see some green 4h candles next, the way down to 8500 and even further below to 8000 seems wide open.
Comment: The last time we had the 50 day break below the 200 day we had 30 days downwards (purple channel) before a reversal.
Comment: If you go long on BTC you are in some pretty good discount territory now. Just don't blow it all at once.
Comment: BTCUSD got rejected attempting to enter the downward channel line for the medium to short term down trend. Still #bearish!
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