BTC is on track to hit key levels in the daily chart as bearish momentum increases. In the daily chart, price is nearing the target immediate support around $7,800 - $8,000. On the other hand, intraday levels (in 4H) continues to get hit followed by lower lows. Until bids settle, BTC is poised to go down further. Key support in the daily chart sits...
BTC continues to show weakness and an MA crossover has formed in the daily chart, which could tell that there's more room to go down. With this price action, intraday bounces for lower highs are likely to happen (spot the 4H chart for price structure). If BTC maintains its course, levels would remain the same with $7,800 - $8,000 as the next target...
BTC broke below the 50 MA in the daily chart which is an indication that BTC is moving closer to a bearish scenario; if price action doesn't pick up with decent volume from buyers. The current resistance would now be around 8,500. If momentum picks up, this break of 50 MA would be a possible overshoot for a bounce. Otherwise, BTC is likely to head ...