The sudden drop in BTC has broken the .5fib level and is in support zone now. This can be a fake breakout but is highly unlikely to see a trend change from here onwards.
I am overall bearish
1) RSI is still far above from being oversold.
2) Bearish TK cross ( Blue line crossing the Cherry line from above) when we are already below the cloud. Kijun(cherry line) is acting as a resistance now.
If the price drops further .618fib (8398$) is the next support and then 7550$.
Edit: Typo
Further below = REKT!
I am overall bearish
1) RSI is still far above from being oversold.
2) Bearish TK cross ( Blue line crossing the Cherry line from above) when we are already below the cloud. Kijun(cherry line) is acting as a resistance now.
If the price drops further .618fib (8398$) is the next support and then 7550$.
Edit: Typo
Further below = REKT!