BTC Heading downwards if support 7250 is broken. for BITFINEX:BTCUSD by teebaum

I would short around 7250 because we go down to 6200 for a bounce.

The elliot wave drawn is in a bullish scenario where the wicks are not considered for a correct elliot wave.

Comment:

The short is based on RSI going lower even with RSI+EMA.
Another factor is the rejection of the 61.8 Fib retrace with low volume

Comment:

we currently bouncing of the upper trendline, if this gets validated
we see a new low and might bounce from 6.3k

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