Bitcoin, the main cryptocurrency in the market has been involved in constant downward movements that have so far brought it from the $ 10,500 to the current $ 7,897. Just below the 61% fibonacci level, it is looking for a bullish rebound but it seems that it will not succeed due to the low volume it is presenting in bullish candles.
To see a clearer and more reliable recovery we must wait for the $ 8,400 break again and consolidation on top of it, if this does not happen there is a possibility that we will see Bitcoin fall much more. Breaking important supports over $ 7,600 and looking for next fibonacci levels like 78% at $ 7,200
We hope Bitcoin can regain ground over current levels and consolidate that $ 8,000 to begin a rapid recovery towards an uptrend. At the moment the market crisis is not leaving room for buyers with greater volume and a scenario of uncertainty and doubts about the markets has been created.