BTC/USD showing a lack of momentum and has been unable to hold the 8500 level off the 1hr 100ma resistance bounce. Looking for a bit of consolidation and then lower to the first target of the 5k area. A close below 8200 signals confirmation. Short trades can be entered at either, a 4hr close below 8200 or on a short term bounce to 8900 and the 1hr 50ma resistance with a stop above 9500.
Comment:
Alternate scenario before retest of the swing low and most likely lower to 5k. The bearish Gartley and false breakouts have been very accurate thus far, just a level to keep an eye on if price breaks to the upside.
