Fib Channel looks to be holding true. However a H&S pattern is forming and could fall as far as $6500. If support (roughly $7600-$7500) breaks, the next support area is the bottom of the trend line shown above, a further break from that would mean
BTCUSD
falls to next support (based on price volume that can be see on a daily chart and not shown above) at roughly $6600-$6500. Additional support for the head and shoulders pattern can be found in the RSI, which is has shown lower highs as bitcoin's price has risen.
BTCUSD
falls to next support (based on price volume that can be see on a daily chart and not shown above) at roughly $6600-$6500. Additional support for the head and shoulders pattern can be found in the RSI, which is has shown lower highs as bitcoin's price has risen.