Analytics

BTC: Keep Going Down Until To Fill The CME7185 Gap

In response to the sudden fall of BTC recently, we believe that BTC is facing further pressure on the bearish and is likely to continue to fall until it fills the gap of CME7185.
One situation is exceptional: BTC will oscillate around $8,100 later, and there is strong support at the bottom of $7,800.
At present, from the downward trend, there is no fundamental change in the market structure of Bitcoin.
The Bollinger Bands are expanding downward, and the MA indicators are all head down, MACD shows the price dropped in heavy trading volume which has a tendency to further downward.
From the Kline, the trend is very likely to get out of the M top. Currently in the first half of the M top has been completed. The current market is expected to rebound slightly after hitting the top pressure, once again ushered in a huge decline.

Key points:
Short: $8,200-$8,250
stop-loss: $8,400
Take profit:$7,800-$7,700
Not recommend the spot

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