We are getting close to decision time for BTC...

Bitcoin is about to brush up against its year long downtrend line.

That usually means price is either going to break through it or bounce off to a new lower level.

(Source:

https://twitter.com/alistairmilne/status/1086558369513648128

- alistairmilne

)

Which will it be?

Unfortunately, my guess is that we break to the downside yet again.

I wish I had better thoughts, but usually at bottoms we see more violent price action.

Meaning that when prices plunge lower they often bounce back just as fast if the bottom is truly in.

What we have seen is a slow meandering drifting type of price action off the lows.

Not something usually seen when bottoms are put in.

Hopefully I am wrong though and we smash through the downtrend.

What do you think will happen?

Let me know your thoughts in the comment section below.

Stay informed my friends.

Follow me: @jrcornel