News from China pushed the markets down. Bitcoin
dropped below SMA100 and 4400.00 support level
. It's a signal that now we should expect further downward movement. The market can reach 4000.00 support level
one more time. This support level
is strong and we have to watch for price action closely. Also 4000.00 support level
is the key level for future price movement. If the price bounces from it, it will be a confirmation of possible upward movement and new buy opportunity. Indicators will have to confirm price reversal. If the market breaks it and moves lower, we'll see falling to 3700.00 levels and even lower. Will it be a short term downward movement or the same correction like it was in June? We'll get more understanding within several days.