Bitcoin reached the support level around $7,000 after dropping further down on Thursday.
If price rallies from the support level, we would like to see a break of the descending trendline before making any decisions to buy.
If the trendline continues to act as resistance we may see lower prices, down the the support area around $6,000.
There is also the possibility that we may see some sideways action in the coming days around the support level and the trendline, even if we see a break of the trendline.
Good Luck,
CryptoTrendline
If price rallies from the support level, we would like to see a break of the descending trendline before making any decisions to buy.
If the trendline continues to act as resistance we may see lower prices, down the the support area around $6,000.
There is also the possibility that we may see some sideways action in the coming days around the support level and the trendline, even if we see a break of the trendline.
Good Luck,
CryptoTrendline