We entered a capitulation phase after the drop to 18120, after a few hours it looks we are supporting the 18745 level.
Possible scenario 1: We break 200 yellow EMA (under 5M) THEN there is a potential rising move until 19530 level TP1 and then to 19900 level TP2
Possible scenario 2: We break 18640 THEN possibly would take us down to 17500-17300
PS: You can see...
We have had a really strong down move, general sentiment is bearish and there are no signs of recuperation.
Support resistances and trend lines show what I think is the most probable scenario.
1) We go down to test 5.8k
2) Bounce back to hit trendline
3) Go down until 5.2k.
#Bitcoin #Short