Yesterday I showed that Bitcoin was in a descending triangle with two possible moves.
A few hours ago Bitcoin broke down from this pattern and IMO is heading for another lower low. I highlighted the volume confirmation of the breakdown.
I would expect to see some slight support at the last low (9500) area before we break down to the 7500-8000 level. This level indicates the lower trend line support for the downtrend. Keep in mind that the longer it takes for Bitcoin to hit that lower downtrend support, the lower it may go!
A lot of opinions out there saying this is the last low of the correction and could see a trend change from here!
Trade accordingly and we'll see! Keep a close eye!
