CryptoComes

BTC - despite retesting $8,000, bearish moods are not canceled

BITSTAMP:BTCUSD   Bitcoin
On the four-hour timeframe, you can see how the price is slowly going down the descending channel. At the same time, a fairly strong level of support is formed at the $7,500 mark, from which the price pushed for the last time on June 10.

Along with falling volumes, bearish moods are aggravated by the downward slope of the MA 50, which on June 7 crossed the top down of the MA 100.
For a radical change in sentiment, the price needs to be broken against the background of high trading volumes of the upper channel line, currently passing through the $8,050 mark.
However, trading activity is currently low. In addition, the downward slope of moving averages (MA) indicates a high probability of falling below $7,500 over the next 24 hours. If this level of support does not stand, then the price is likely to fall below $7,000.

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