I posted yesterday that there was a good chance for a break to the downside. This has now been confirmed by the bitcoin price going through the $3553 support line.
My short trade has now been activated and the first downside target is $3250 and the next support level is at $3100.
This short trade is just a way for me to keep an eye on the bitcoin price action.... not much money to make in this unless you short trade with very high leverage.
The overall Donchian channel is now clearly making lower lows and bitcoin is bringing al l the majors altcoins down with him.
The cryptocurrency market is bearish... for now.
This is my BTC price analysis for today and it is now financial advise. Sign up for free and join our BTC trading community for more insights on cryptocurrency trading.