Currently price is rejecting the 4hr 50EMA, should we accelerated away from this level ( to the downside ) then i see price testing $6,000 once more, if we break the 4hr 50EMA then look to the daily TF above which is the 1st resistance where price is likely to test.
Should price break and close below $7450 i see a short opportunity.
The break and close below $8120 would mean the 1hr ascending trendline, 1hr 50EMA & 4hr 50EMA would be breached aswell as forming a high-test rejection candle on the Daily timeframe confirming resistance 1.
Price has now broken ascending 1hr trendline as expected.
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It's always unknown, unfortunately especially with bitcoin it's something that requires monitoring more than that of the FX market due to the lack of historical data, i would personally monitor price per day and update your position accordingly.