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Short

Bitcoin to test $3,000 — Probable bottom at $1,850

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As Bitcoin is in free fall and trending in confined range, the price will bounce between $3,000 and $3,500.

If the daily candle closes below $3,000 at any point, the test of $1,850 (S2) is highly likely as there's literally nothing in between to stop to price from falling.

S2 is the major support established in July 2017 which was the start of the Bitcoin run up.

Short-term outlook is to short BTCUSD at around $3,525 with a target of $3,000 with stops around $3,625.

Mid-term outlook is to short BTCUSD at around $3,450 with a target of $2,050 if the price closes below $3,000 at any point with stops around $3,150.

Mid-term outlook #2 is to long BTC at around $3,025 with a target of $3,475 with stops around $2,925.

No long-term outlook at this moment.
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