RSI is starting to show some solid divergence on multiple timeframes. BTC took some solid hits yesterdays and it may have not have found its bottom yet. But it is due for a potential retracement here before either finding its feet or continuing down. I am interested in looking out for a trade on the correction. We need to see a bullish candle with some decent volume to confirm we are not just falling for a bull trap.
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Given that we have some really solid resistance above us, we could also be rejected by the downward channel line and and our previous channel support. If so, we could get pushed down to the 7,700 region before a correction.