FX.co ★ Bitcoin to extend decline to $7,155.49

Bitcoin broke out and closed below the support level of $9,078.39 and then rebounded again to re-test that level as resistance. Afterwards, the most popular cryptocurrency has already changed the overall bullish trend into the bearish bias. Now the price is trying to hit $7,155.49 as the first target as long as Bitcoin does not retrace to the higher level of $8,484.25. $7,155.49 is likely to be reached later.

The overall trend is bearish at the moment.

(Disclaimer)