JayHendrix

BTCUSD POTENTIAL NECKLINE RETEST

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
POTENTIAL NECKLINE RETEST ON BTCUSD .

BULL AND BEAR SCENARIOS
IF BTCUSD RETRACES TOWARDS RESISTANCE AND QUICKLY BOUNCES BACK DOWN, THERE IS MORE DOWNSIDE TO COME IN NEAR TERM.

IF BTCUSD BREAKS FIRST RESISTANCE ZONE , WILL RETEST NECKLINE RESISTANCE, 1ST RESISTANCE ZONE BECOMES SUPPORT FOR THE BULLS.
ALTERNATIVELY, IF BTCUSD FINDS A LARGE AMOUNT OF SELLERS AT NECKLINE, SUPPORT MAY NOT HOLD.

IF BTCUSD CONTINUES TO DROP WITHOUT RETESTING, LOOK FOR BUYERS AT 35K THEN 30K FOR A BOUNCE.

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