The BTC broke previous support at 8448 area with strong bearish bar. This same support now acts as a resistance level. The price went little down, but seems some sellers started locking their profits. This reaction pushed the price up. If the price goes close to the breakout point, we may see the structure backtesting. The more selling orders expected to be set at this point. In other words, the new sellers will most likely step in that will fall the price down and we will see the more bearish moves.
Comment:
The price backtested the level as predicted and going down
Comment:
The market did not make much move after going little down and backtesting the structure again.
