https://www.tradingview.com/x/Bm9Kc46r/
Yesterday was a nasty day for the bulls. The daily candle from high to low was $600. The price tagged the daily BB band. Today we are seeing a bounce and could expect to retest the broken resistance at $7,800 or even $8,000. I think $7,800 will be though to overcome. MACD still trending down. RSI (4) bouncing from an oversold level bellow 20. Even though we fell $1,200 in 3 days I don't think this downtrend is over. Some important levels were broken on the downside.
Weekly: Down
Daily: Down
4 hour: Neutral
1 hour: Up
Prediction for the day
I think we are going to trade in a range of $7,600 - $7,800 range with a bias to the upside. If we break $7,600 again we are going to head towards new lows in the $7,000-7,200 area.