I hope all is going well with everyone.
Bitcoin is currently in a trading range (sideways trading) for the past 10 days - trading between $8200 ( ) and $7050( ). I can see some major signs of weakness that Bitcoin price is showing.
For example, the major rally from $7200 to $8100 with strength but prices failed to make any new highs and bitcoin , therefore, fell to $7400.
- Current support is at $7450 (marked in green)
For now, it is fair to say that bitcoin will correct to $7700.
Again, we need more and price action data to confirm if this is a distribution or re-accumulation.
Best of luck and have a great weekend: )!