DOWN THEN UP.
After the breakout, I still believe that BTC is still riding the bearish direction.
The King might be actually playing in a descending channel as of this writing.
However, a support level that is following the trend (hidden line) is very close.
Should BTC respect that support, the King might bounce from there.
Another case is that BTC will dive further down.
Only to be greeted by a strong support zone.
Buyers are present in that area and are patiently waiting.
I would not be surprised if at level 7500, BTC suddenly bounces up.
Should BTC decided to go deeper, he will be met by the strongest support level (6500).
The chances of BTC to rebound from here is highly assured.
Almost every Cryptonian is expecting that BTC will not go lower than this level.
If this happens, then that's another story for me to write and post.
But for the meantime, let's all relax and watch Bitcoin's show.
SniperShean
