BTC has already broken out to the downside of an ascending wedge. An attempt to get back above the 200 MA suffered strong rejection. It’s now sitting at major support. If this support fails (an I expect it will) I expect price to move down to the 0.618 Fib line at around $25,500. A bounce from here would be an excellent opportunity to secure the new bull market. I’ll be looking to get long here if this confirms. If this level fails we are looking at a move down to $18,800 to find the next strong support.
