Bitcoin Support Broken, What Happens Next?

21 May 2020

Here we have Bitcoin (BTCUSD) on the 12H timeframe, multiple bearish signals are coming in.

• First, we have a clear break below EMA10.
  
• Second, above-average volume on the break of support.
  

If BTCUSD fails to move quickly above EMA10, the chances for it to continue lower increase dramatically.

This setup here is bearish but we still have a higher low compared to the 15-May... In just a few more candles the picture will be as clear as day.

Namaste.

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