BTCUSD - Channel break risks further downside

COINBASE:BTCUSD   Bitcoin / U.S. Dollar

Bitcoin - Short Term - We look to Sell at 8000 (stop at 8400)
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 7360. Signals are mixed but remain mildly bearish with an short-term timeframe highlighting an exhaustion count. Broken out of the channel formation to the downside. Further downside is expected although we prefer to sell into rallies close to the 8000 level.
Our profit targets will be 6800 and 6600

Resistance: 8000 / 8300 / 8500
Support: 7350 / 7000 / 6800
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