Here's a weekly time-frame of BTC:USD - if you checked our past telegram updates you know we've been well in sync with the market, catching awesome movements and banking a hell lot of money for you.
Now let's get into another market update.
As you can tell we absolutely melted from the likes of 8700 all the way down to 7300 during the past few days. $7300 as covered on the Telegram channel is a very important psychological level on the weekly and its basically the last barrier that BTC had to break before going towards the likes of 6000.
After breaking below this level we came back to retest it which currently is holding pretty well. Now judging by the current picture this retest could be continued with another push lower, however I believe that we could be seeing some consolidation around these levels or even a short term push towards $8000 on the lower time-frame such as Daily and 4H which I kept away from this analysis for the sake of keeping the charts clean and easy to understand.
The $8000 on he historical point of view has acted as a crucial support and it's only logical to come back and retest it before continuing lower, however always be cautious of the $7300 if we see rejections of this levels on the lower time-frame that could take us to $6000 quicker than expected.