BTC has broken support at 8950. What next?

5 mai 2020

I see BTC (15min tf) retracing back to 8950 area after finding support at 8812 area. The next direction of price will only depend on whether resistance at 8950 is broken which will mean we will see price go up or support at 8812 area is later broken which will also mean we will see price drop some more. If not, price may see a retest on the 50 or 200 EMA and go further down. For now, let us relax as the region in between 8812 and 8950 might see some consolidation before breakout.