Yesterday we mentioned about the range Bitcoin was trading at for a couple of days: $3700 from below and $3850 from above. We also mentioned that we expect a breakout to either direction very soon. As you all can see, Bitcoin broke down the $3700 level in its way to test the next resistance which lies at $3600. So far, the significant support level of $3600 holds up. But, and as said before, the bearish momentum is not over yet. Hence, the chances of a break down are higher than those for a reversal here. Looking at the 1-day & 4-hour charts As expected in the case of breaking down the $3700 support, Bitcoin went down quickly to re-test the next significant support level at $3600. Breaking down the $3600 and Bitcoin is likely to retest the $3480 support level, $3400 and the strong support at $3300. From above, $3700 is now a support-turned resistance level, along with the 200 days moving average line (marked in light green on the 4-hour chart). From above, the next resistan...
