Bears keep up pushing the price down: by now, have squeezed through $8,000.
* Bitcoin is under substantial selling pressure since the 11th of October and could potentially drop below the latest bottom near $7,700.
* However, the short-term suggests the price action to develop within that structure, with the ultimate down target located around the same Support of $7,700 - $7,750.
* Alternatively, there could be a bear trap hidden inside the current price action - on the way down from $8,400 to $7,700. This alternative makes sense if we clearly observe the seller exhaustion as will have been signaled by a on indicator.
* At the moment, has stepped into oversold area on H1, so we can expect short-run price spikes.
Active trade signal
Sell price spikes.
Target: $7,700 - $7,800.
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GOOD LUCK AND LOTS OF PROFITS !!
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