One of the best ways to identify a breakout is volume. Real breakouts are usually combined with high trading volume. When the breakout happens during low volumes, the move will likely not hold and reverse. In the last 24 hours we've seen a low volume bullish breakout that reversed several hours later. Followed by much higher volume bearish...
Over the last week BTC has traded in a narrow range with low volumes. The June 10th bearish breakout has set the stage for several scenarios:
1. A triple bottom formed from by the February, April and now June lows.
2. A short rebound followed by a lower low in the the 3000-5000 range
3. A break down and retest of 6000 before stabilizing
The RSI is has already...