SUMMARY
Bitcoin has continued its pullback from the $7,100 area after being strongly rejected earlier this week. The minor pullbacks price has been having after being heavily rejected off the major support levels is a clear sign of a healthy down trend that i believe price will continue develop over the next few weeks.
Price is currently trading on a minor zone where price has previously found support/resistance. This morning we saw price rejected off this level and drop to the EMAS around the $7,450 price, before pushing higher again to retest the $7,600 zone. I believe we will see a strong push through this level to the $8,000 level where price will fall again.
The daily timeframe is developing the scenario of a push towards the $8,000. The market is still showing low levels of volume and high amounts of uncertainty among investors/traders, suggesting that price will be heavily rejected at the next major zone of $8,000 and continue to develop this downtrend.
Will we see price's continue to fall? Leave your thoughts below in the comments!