At the moment, the price is trading in a range close to the $ 8100 level. A first resistance is the Fib retracement level of 23.6% from the last drop, from $ 8,500 to $ 7,836. The next hurdle is near the $ 7,060 resistance, which was earlier support. The resistance of $ 7,060 indicated also coincides with the 100-hour SMA. Above, there is a key bearish trend line formed with a resistance of nearly $ 8,200 on the hourly chart of the BTC / USD pair. The trend line is near the 50% Fib retracement level of the last decline, from $ 8,500 to $ 7,836.
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Hi, I am Onkar.
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