The price bounced from the $7935 support level and broke through all resistance levels of the core, all except one. $BTC stopped below the $8255 and did a fake breakout right up to the accumulation of Fibonacci levels in zone $8318 (50.0% and 38.2%). Such a setup needs a correction.
No doubt, the price has a very strong trend, the impulse was strong, but I can't say that it had great volumes. The price was moving with little support from traders, mainly liquidating SHORT positions.
The price has only one chance to get out of the bearish quarter - break the resistance $8255, since above one there is a zone of weak resistances and strong supports. Moreover, the zone above $8255 is the upper half of the channel, which corresponds to all the words I told before.
From this point, the priority is Correctional - Downward. The upward priority will be after fixing above the $8255 level.
No doubt, the price has a very strong trend, the impulse was strong, but I can't say that it had great volumes. The price was moving with little support from traders, mainly liquidating SHORT positions.
The price has only one chance to get out of the bearish quarter - break the resistance $8255, since above one there is a zone of weak resistances and strong supports. Moreover, the zone above $8255 is the upper half of the channel, which corresponds to all the words I told before.
From this point, the priority is Correctional - Downward. The upward priority will be after fixing above the $8255 level.
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