Industry news:
China's economy has been making headlines in the last few months, and not for good reasons. The country has just experienced its third bank failure within three months, as its economic growth continues to diminish.
In fact, China's economic growth is reaching levels that have not been seen in over 30 years. Judging by its performance so far, it will likely only keep getting lower and lower.
Technical analysis:
I found that the BTC reached Pitchfork ML at $8.000 and I do expect further sideways to the downside movement. Usually after the price reach Median Line, you expect several pivot to form around.
I would watch for selling opportunities with targets at $7.662 and $7.415.
Stochastic is in overbought zone...
