Bitcoin made a dump on our trendline from 5500$ to 5000$ in a few minutes.
Then it weirdly fully recovered on Bitfinex (google the bad news about them, to be more informed!).
That’s only a partial recover, as in all the other exchanges, the prices are still very low.
But let’s focus on WHAT can we do now to make some profit.
Luckily the trendlines now are quite well defined:
We have the most bullish scenario, a continuation of the uptrend if we break the second ascending trendline (point 1)
We have Stable-Uptrending situation if we break point 2, which has a central role in the price behavior these days.
Break of point 3 means no remaining bullish trendlines, and continuation of the downtrend.
The worst scenario is a break of point 4, which can lead to an accelerated downtrend.
We are actually in a semi-stable situation, but this won’t last for more than a couple of days.
What do you think will happen?