BTCUSD: Triple Top rejection. Expect 6,800 - 6,400.

Bitcoin was rejected for the 3rd time on the 8,200 - 8,360 zone, making a Triple Top rejection formation on 4H (turned neutral with RSI = 51.868, ADX = 28.597 as it is trading close to the 0.500 Fibonacci level). We are expecting the rebound zone within 6,400 - 6,800 assuming that the decline rate on every rejection increases by 0.40. There is also an obvious long term Support, which if respected will accumulate buyers for the next leg up towards 10,000.










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