After being rejected from the $11,200 level over the weekend, Bitcoin is looking fragile as the 200 EMA looks inceasingly likely to be crossed by the 50 EMA to the downside on the four hour chart. Downside targets remain at $9,150, $8,550 and $7,400.
Broken down out of channel on 04/06, re-testing the breakdown point on 05/06 going into the 6th. If candles close above 7750/7800 we flip bullish, neutral leaning to bearish as it stands. Short orders set around 7680 with stop loss above 7775.
