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$BTC.X #cryptocurrency #BTCUSD #Bitcoin likely more downside

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
in the near-term, as we confirmed resistance at $13,000. Notes on the chart but looks like we'll test the next level of support in the not so distant future, which should be stronger than at $10,000 for reasons mentioned. $6,400 might be a capitulation area as traders see $5,000 as very strong support and catch it before we get to $5000. Also note this would line up with 2013-2014 bear market on a shorter time frame. See for reference and a write-up I did at: https://thebitnote.com/the-bitcoin-market-in-2018-part-i/

The question here is the time frame and how long these levels may take to play out. We can certainly have a number of bounces before seeing them, but from my perspective the levels shown are the important ones longer term; anything else keep in mind will be in play for shorter periods of time.



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