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JayHendrix

BTCUSD POTENTIAL NECKLINE RETEST

Bitcoin (BITSTAMP:BTCUSD)  
JayHendrix  
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Technical Indicators btcusdanalysis btcusdshort btcusdlong BTCUSD BTCUSDT BTCUSDBEARISH btcusdbullish btcusdbuy btcusdsell
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trendanalysis indicator btcusdanalysis btcusdshort btcusdlong btcusd btcusdt btcusdbearish btcusdbullish btcusdbuy btcusdsell
POTENTIAL NECKLINE RETEST ON BTCUSD.

BULL AND BEAR SCENARIOS
IF BTCUSD RETRACES TOWARDS RESISTANCE AND QUICKLY BOUNCES BACK DOWN, THERE IS MORE DOWNSIDE TO COME IN NEAR TERM.

IF BTCUSD BREAKS FIRST RESISTANCE ZONE, WILL RETEST NECKLINE RESISTANCE, 1ST RESISTANCE ZONE BECOMES SUPPORT FOR THE BULLS.
ALTERNATIVELY, IF BTCUSD FINDS A LARGE AMOUNT OF SELLERS AT NECKLINE, SUPPORT MAY NOT HOLD.

IF BTCUSD CONTINUES TO DROP WITHOUT RETESTING, LOOK FOR BUYERS AT 35K THEN 30K FOR A BOUNCE.
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