BTC may be about to break down

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
See the indications from the TD Sequential, Vix Fix, and TUX EMA Scalper noted on the chart. There are several signs that a short would be sensible. Higher leverage shorts may want to place a very close stop, just above 6760. Otherwise, a stop at 6860 would close on a breakout. I see a breakdown below 6650 to be likely to drop to 6400 or below, perhaps retesting or breaking the prior low at ~6100. We may see a new low. Those who are short from 6800 or higher may want to take profits near 6670 and reopen if support breaks, with a stop at around 6640. My bearish outlook will change if support is established above 6850, and I will be looking for 7050 next, which I don't think can be broken on this run.


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