Bitcoin just broke Down, Now what ??

in #bitcoin6 years ago (edited)

Last week when everybody was bulish, the price was @6500$ and people were calling a Btc Brakeout i posted a warning https://steemit.com/bitcoin/@tristiancnc/bitcoin-to-much-fomo-and-exuberance i hope you were carefull. Unfortunately math is math and descending triangles brake down 70% of the time. Medium term BTC.jpg

What now ? As far as i can see 3 options :

  1. A trendline bounce from the major trendline coming from 2012. Unlikely to happen ( if it does it needs to be in less than 24 hours )bownce.jpg

  2. A quick drop to @ 4900$ fallowed by capitulation and massive volume up

  3. Slow bear market going down to @ 2500-3000$ (maybe less)