Bitcoin Targeting 7.4k in short term now that the hypes gone?

Description ⋅ May 12, 2020 2:55AM

BITSTAMP:BTCUSD is struggling to make moves up, facing ALOT of resistance above. Path of least resistance is down in my opinion. targeting 7400's. We do have a support at $8150 above at but have retested once already — and it wasn’t that strong to begin with, will need to see a lot more volume to hold that mark.

The current lines of resistance have proven consistent over the last couple of months, I think the market is seeking a larger discount before we can progress upward again. see below chart, consistent relationship price w/ pitchfork lines of sup/res in the current arrangement. Enter; market or small pullbacks

SL: 9315

Target Price : 7400–7600

H1 ; Bearish