Simple but efficient analysis

We are bellow (but near) 7700$ ; which is the 200 day EMA.

It is difficult to predict the direction at this price level as 2 scenarios are presented :

- If the market breaks this level with high volume , big green candle , and closes above it : positivity is imminent.

- Otherwsie : selling pressure will continue. If 7500$ broken , the negativity can be very harsh as the major support monthly level will be broken.