My current chart on BTC. I was expecting a quick bounce from the $7500 level, before proceeding lower, due to the close of the prior two session. But with the current pressure as the hourly closed below the lower 4H wicks and presently sitting on the 4H 200 EMA. My focus is now on the current region and $7300 level. If the 200 EMA then $7300 level are taken out I will be expecting a fast drop lower to the high 6K region particularly the $6800 level. Which also aligns with the lower daily trend line support (blue).
Comment:
Here is the daily perspective. As I mentioned the prior two days tested the $7400 level but closed above the 100 EMA (blue). As well you can see the $7300 support aligns with the 50 EMA (orange).