BTC/USD has lost much and is now once again under the 50 EMA as well as all other EMAs.
The prices have currently consolidated and a breakout further below is possible as it's currently under a lot of sell pressure as MACD confirms. It doesn't have a firm support yet to retaliate and go higher.
That being said, it's very possible that it will go further below to find it's next support area.
Trade closed: target reached
⋅
Position was closed at 8050 for safety reasons. Yet soon for a reversal up higher but it's expected as bulls regain control.