The $7,077 level could well be the low. However, overnight price rallied back to the $7,500 level and sure a very strong rejection off this level with a $200 decrease in value since reaching the level a few hours ago. It is very common for price to see a small pullback up to the previous low before it continues its push down, i believe that is what we will see happen here. Its pushed to the previous low of $7,500 and will now come back to test the $7,077 level.
The $7,077 level could well be the low. However, overnight price rallied back to the $7,500 level and sure a very strong rejection off this level with a $200 decrease in value since reaching the level a few hours ago. It is very common for price to see a small pullback up to the previous low before it continues its push down, i believe that is what we will see happen here. Its pushed to the previous low of $7,500 and will now come back to test the $7,077 level.