LennyCrabsticks
Short

Impending Bearish Confirmation

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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BTC has broken through the bright red line on the long term uptrend and if it confirms by midnight UTC then we'll likely see a bearish continuation with a drop to test the $6000 mark.
A bounce may be expected and a third test of 6000 could yield a drop to around 4000.
Time is a factor here and the slower the descent the better the chances of not getting that low, a bounce before 6k could slow it down enough to avert such a capitulation, the general sentiment is still negative and we need a few more weeks before the bulls regain their confidence.
Mar 14
Comment: P.S. this isn't intended as trading advice
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