Right now, BTC 7.97% is looking for support at the ~$8,400 level.
RSI is healthy for 1, 2 and 4 hour charts
MACD trending negative for 1 and 4 hour charts. This may suggest that we will not find long term support at the $8,250 - $8,400 level. This could easily change, though, as the bears and bulls battle it out.
If we have and hold support, I believe we will head North towards the healthy growth channel (in green), with the chance to hit next resistance at ~$9,400.
If we do not have/hold support, We have a chance to drop again following the downward channel , hitting our prior resistance of ~$5,500 as a new support. Lower Supports also mapped in case we break $5,500.
RSI is healthy for 1, 2 and 4 hour charts
MACD trending negative for 1 and 4 hour charts. This may suggest that we will not find long term support at the $8,250 - $8,400 level. This could easily change, though, as the bears and bulls battle it out.
If we have and hold support, I believe we will head North towards the healthy growth channel (in green), with the chance to hit next resistance at ~$9,400.
If we do not have/hold support, We have a chance to drop again following the downward channel , hitting our prior resistance of ~$5,500 as a new support. Lower Supports also mapped in case we break $5,500.
