BTC has been painful to watch over the passed few weeks, with no real excitement either way. If we close above the $7200 level, ill be looking at intra day longs, and to be in and out of the sideways movement; so profits around at $7500-$7600. If we close below the current level, more downside to $7000 is extremely likely, ideally we would use $7000 as a support and rocket towards $8000.
If we keep moving down, we'll have to re assess our options, i'm taking precautions here as i think a big move is due and with big moves comes heavy stop hunts!
We’ve passed the point in which i predicted a bigger move to the downside, however its still not impossible, so stops will sit quite tight.