For now, strong support is seen at 6728.58 levels.
In the recent past, more dips seem to be likely on the decisive breach below these strong supports, both the leading oscillators signal momentum in selling interests, while DMA & crossovers signal downtrend to prolong further.
Both leading ( & curves) and lagging indicators (7&21EMAs and ) have been indicating that the strength and downtrend continuation.
If you see any abrupt swings that are not reliable as the technical indicators have still been in bears’ favor.
on weekly terms shows downward convergence to signal the faded strength in the previous uptrend. Same has been the case with curves.
Hence, contemplating on both short-term and major trend, we advocate snapping BTCEUR rallies to deploy shorts, stay short in contracts of mid-month tenors with a view to arresting further potential downside risks.