Following our previous BTC price analysis, Bitcoin had broke the important support level at $8,400, and from there quickly head down to the next support level at $7,800. As of now, we are struggling around the support level. Breaking down the $7,800 will send us to $7,300-$7,500 which is critical major area of support. From there, the way to test the $6,000 zone is fast to reach. On the bull side, we can see testing the support-turned resistance area at $8,400.
BTC/USD BitFinex 4 Hours chart
BTC/USD BitFinex 1 Day chart Overview
The critical area is at the long-term trend-line at around $7,500. Bitcoin might get support there and go for another wave up. Breaking it down and $6,000 is at reach.
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