Here's a little update on BTC:USD, we haven's seen much movement on the BTC this week so I'll keep this on the weekly time-frame only as a quick update on what to expect next.
So as you can see, after the sharp reversal that we had on BTC , we haven't really had any major moves next. Since falling back to around 7600 level the price spiked to the upside a little which resulted with a retest of $8500 - Key level of resistance, and then immediately rejected it. - This movements could be a preparation for another leg lower.
I highlighted the $7500 region as a where we can see BTC to spike, which looks to me as a last barrier, keeping the price from plummeting towards $6000.
We could be seeing stop hunts back and forth in between these two levels before anticipating a real big movement so keep in mind the 8500 and the 7500 levels on the weekly as an orientation when where we could spike next, a break above 8500 will take us to 9500 but that seems unlikely now following that big reversal, however anything can happen in this market.
We will update the analysis with a smaller time-frame once we start seeing a little bit of movement on the daily, until then the focus will remain on the weekly time-frame.