Bears' dominance continues

Our earlier Bitcoin price prediction came true earlier than predicted. The price of the chief crypto has plummeted by $100 just in one hour.

On the 4H chart, the price after the rebound went to test the support area. The current structure should be considered as a descending ‘Flag’. In the case of closing below the level of $7,630, the model is expected to complete and quotes fall to the level of $6,875.
A breakdown of this area will indicate a decline to the level of $5,750. The shift of RSI values under the support line indicates a high probability of further downward movement.