Bitcoin is going even lower! - Daily Bitcoin Screening: $7,242 (4hr chart)

#Bitcoin continues to dip. It broke our next level horizontal #support at approx. $7,500. I now changed this line from blue to red as it now serves as a #resistance. I also added our next level support trend line from a previous #bullish trend starting Sept. 2017. I can very much see #BTC dipping into the $6,000’s to this support. Here is the cycle folks. Once Bitcoin touches that support, it will probably bounce. If we do not break out of the #bearish trading range (green), we will continue to dip even further. This is how markets work. It’s not for everyone. So moving forward, we will see a further dip, but we have to watch how BTC acts after the next bounce off support. Be strong. Be objective. Be ready!