Bitcoin was not able to take hold above the $8255 level, so the initial update was actual. The price has broken through the support level and went down to the $7935. Now the price is located below the descending resistance, the breakdown wasn't fake and currently we are located below two important levels. As you might understand - very bearish case.
If the price breaks the downward level and starts breaking through the $8050, we can expect the price to move higher. However, I think that probability of this case is only 30%. What about another 70%? The price breaks through the $7935 and goes lower to the descending support (±$7750). Now we are in locally bear market.
Therefore, we can place sell orders in the range of $8020 - $8150 with the SL above the $8255 level.
If the price breaks the downward level and starts breaking through the $8050, we can expect the price to move higher. However, I think that probability of this case is only 30%. What about another 70%? The price breaks through the $7935 and goes lower to the descending support (±$7750). Now we are in locally bear market.
Therefore, we can place sell orders in the range of $8020 - $8150 with the SL above the $8255 level.
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