In order for BTC to break the downside trend it has to break above the previous impulse start of the downtrend and hold it as support, which means breaking above 8000 and holding the 7500-7600 level as support. This is not the case.
So far the cryptocurrency printed a at the 7500 area and a recent lower high with extended bear candle wicks holding some downside pressure. From here we have to see a break below 7000 into the end of this week on strong . The ultimate level to break is 6700 in order for price to create a lower low.
Disclaimer: This idea is for educational purposes only, this does not constitute trading or investment advice. TRADEPRO Academy is not responsible for any market activity.
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