The trend line was broken with consolidation below, this decrease can be called a pulse, therefore, based on the pulse analysis, we will see a continuation of the decline, the first zone 6800-7100 is the fibbo level and the last hope of bulls.
At the moment, I see flat and bullish signals on the indicators, but from this moment, while we are under 8300 - short priority, but only after the breakdown of 8300 you can re-enter longs, but this will not happen, most likely as always - we will see flat after which there will be a continuation of the decline, on the principle of inertia.
I support your analysis. My current wave target is around $8,200 but your mentioned/pointed $8,000 is also a pretty psychological level which will play a significant role:
Regards!
DACapitalTrading
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Great Setup following you now :) , I have a short position running on BTCUSD right now what do you think?