A quick update following the recent bloody days. Bitcoin is struggling around $7,200 – $7,300. The high volumes of the red candles might indicate on the strength of the sellers. Despite that, the market is over-sold, according to the RSI indicator. The more interesting is the bigger picture, or the 1 Day chart. Bitcoin is getting closer to test (again) the trend line. Breaking it down will probably lead to test the $6,600 support, and $5,900 low of 2018. From the bull side, just a reminder, is support-turned resistance at $7,800 and $8,200.
BTC/USD BitFinex 4 Hours chart
BTC/USD BitFinex 1 Day chart
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