BTCUSD - Testing Support at $12800. May come down to $8500

BTC has been in consolidation. It's broken below the trendline on the daily chart. If we close below the trendline, the next level is to break below $12,800 and close. If this happens, I expect a breakout to the downside between $8500-$9500. If we're able to break out to the upside (closing above $15-16k), then I expect at least $20k and potentially higher, $23k+. With altcoins falling, I anticipate people are taking their profits or losses to bitcoin. Market dominance has been very low for BTC and maybe now it's time for a bull run?

I'm neutral on BTC as I see potential for both breakouts to happen. I am in the trade at $13,500 w/ stop losses at $12,700.

Trade stängt: Stopp nått:

Stop loss triggered. Next move ==> below $10k looking to hit trendline at $8500.