Bitcoin seem to be showing signs of weakness not following through with the trendline breakout.

The region to watch is 2450, which is out final support before we invalidate buy trades.

A possible abcd is froming with 'd' point being at the fibonacci retracement of 78.6% at 2520 region. This scenario is very possible at the moment with obvious lower high formed at point 'c'.

Have in mind we are still going to remain bullish on BTC as the previous daily chart is still valid, and we are in a bullish channel.

If "a" gets broken, we can expect point 4 to be reached, breaking the 3000 region before pulling back.

Zoom in on chart

NEWS UPDATE

Coinbase of the future is decentralized SOURCE : coindesk

Makes sense to change, let us not forget the greatest cryptocurrency hack, mt gox.
Higher security is definetely necessary if cryto were to progress.

China trials blockchain public service SOURCE : coindesk

Usual Disclaimer

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I will like to share more indepth details on how to use certain indicators, ie fibonacci ,elliot waves and many more. I appreciate it if you geniunely want to learn that, comment and let me know, if there are enough attention for that content, I will most definetely share.

For my steemians that are new here, I chart and update possible scenarios. Anyone telling you they can chart once and that will happen definetely, you have to link me to him/her. Over the years, charts to me are constantly updated as price action forms new scenarios etc, if you are trading on my chart and expecting guarantees, you will be disappointed for sure. "Triangle formed yesterday cound most definetely become a rectangle today" But I will always point out the highest probability scenario to you.

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