BITCOIN Bears Continue To Threaten Support Levels

Prices continue to push downward as bears threaten a break of support levels. We're still about 10% away from $3,000 support test though, so all hope is not lost. The weekly charts are holding higher lows so far, but shorter time period charts are breaking low supports hinting the weekly could break a low as well.

There seems to be a strong down trend line in effect preventing and bull action. This line is looking to intersect current supports in about three days.

My prediction is still a longer test and break of $3,000 support over the next several months.

Bear volume is still increasing, so it's looking like this shorter chart will make a bearish break of the current support at $3,337.