Bitcoin starting a new leg lower?

BTC/USD COINBASE:BTCUSD

Eightcap

A heavy shift in momentum sent risk markets sharply lower yesterday. Cryptos also took a beating as traders jumped out of risk assets. Bitcoin was cut down, losing over 8%. Sellers broke through 37,600 support seen on the 4H chart.

Looking at this move, do we see a new breakout lower? We have a series of LHs leading to a new move lower, signalling a normal trend. If sellers can turn 37,600 into resistance and set a new LL, we could start looking at the breakout as confirmed.

Good trading.

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