BTC still bearish?

5 thg 6, 2018

Now that BTC has rejected a major key resistance at 7750 and dropped. It has formed a new lower high from the previous high. I expect BTC to test the 7335 region as this is the 61.8 fib extension from recent high made. If this level is broken and we see a strong bearish candle close below the 61.8 fib line . Then I expect BTC to retest previous low of 7050 and possibly create a new lower low at 6700. However, if BTC creates a nice strong bullish bounce off the 61.8 fib extension and closes daily candle strong. This would suggest a lower high being formed. And what do get get from a lower high? A higher high most of the times so if this scenario plays out I expect BTC to reach $8000-$8400.