Breakdown can not be confirmed yet
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Although the breakdown occurred in the weekly timeframe , it is still early to confirm. The reason is that in the Renko daily time frame, Bitcoin is still above the support level . Until the breakdown is confirmed, it will be difficult to tell if it is a breakdown or a trap.
But there is a point in the TSI indicator that increases the likelihood of facing a real breakdown. The TSI has a negative bias and has a descending crossover.
However, I would rather be patient to have a confirmed breakdown signal.
