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BTCUSD Next resistance around 8500 & 8000

Oleh MichaelHenke
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We broke into and below both downward channels and fell through a key resistance level. If we don't see some green 4h candles next, the way down to 8500 and even further below to 8000 seems wide open.
Nota
The last time we had the 50 day break below the 200 day we had 30 days downwards (purple channel) before a reversal.
Nota
If you go long on BTC you are in some pretty good discount territory now. Just don't blow it all at once.
Nota
BTCUSD got rejected attempting to enter the downward channel line for the medium to short term down trend. Still #bearish!
Trend Analysis
MichaelHenke

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