During this week, the price of the main crypto currency fell significantly. Just for today, she broke through two levels of support at $ 7,260 and $ 7,500. Now it is already below 100 hours moving average and balances about $ 7000. A new bottom was also reached – $ 6,881, but the price managed to recover somewhat and is now consolidating.
Above the price is expected resistance, which has a 23.6% level of Fibonacci retracement of the previous fall from $ 8,297 to $ 6,881. Moreover, the bearish trend line formed a resistance level at $ 7320. Below him is the previous support level of $ 7,260, which is currently the main resistance level. Next to it is another important level at $ 7,320. If the price succeeds in breaking them, it will recover.
Looking at the chart, it is clear that the bitcoin price is clearly in the bearish zone. If it does not manage to recover, and it falls below $ 6,880, then the next stop for the bears will be the gap between $ 6,500 and $ 6,600.