Bitcoin has been trading sideways at the price of 7.475 in the recent, 24 hours. I still expect more downside and potential of 6.610 in the next period but would wait for upward correction first.
Green rectangle – Resistance and good sell zone
Blue horizontal line – Support line and downward objective
MACD is showing us strong new downside momentum in the background and I expect more downside after the bullish correction. Resistance level is found 7.780 and support level at 6.610.
Bollinger band middle line(resistance line) is set at 7.853
