Current support is located at 7400 $.
There is a big resistance at 8185 $.
In my opinion will follow these steps:
1. BTC will go to 7400 $.
2. Bounce back up to 7900 $.
3. Bounce back down to 7200 $.
4. Bounce back up to 7500 $.
5. Bounce back down to 7000 $.
6. And finally bounce back up. ( End of the down trend )
The RSI & MACD are still very low. It seems like there is a triangle pattern on the MACD!
There is a big resistance at 8185 $.
In my opinion will follow these steps:
1. BTC will go to 7400 $.
2. Bounce back up to 7900 $.
3. Bounce back down to 7200 $.
4. Bounce back up to 7500 $.
5. Bounce back down to 7000 $.
6. And finally bounce back up. ( End of the down trend )
The RSI & MACD are still very low. It seems like there is a triangle pattern on the MACD!