Bitcoin holding below 7600 confirms failure

[Day_Trade_Ideas]

Bitcoin holding below 7600 confirms failure, targeting 7500/7495 (now hit), perhaps as far as 7330/10 today. On further losses look for 7200/7190 before the May low at 7035/25.

Minor resistance at 7500 with stronger resistance at 7600/7620. Above 7650 meets a selling opportunity at 7720/40, with stops above 7800. An unexpected break higher targets 7950/8000, perhaps as far as 8140/8180.

 

[Day_Trade_Ideas]

Bitcoin -1.08% breaks the May low at 7050/7025 to hit 6627. Oversold short term so a small is possible but do not even think about a long position. First resistance at 6890/6910 then 7040/070. If we unexpectedly continue higher look for 7170/7200 then a selling opportunity at 7310/40.

Outlook remains negative with further losses likely. Targets: 6550, 6510 & March low at 6430. Below here risks a slide as far as the crash low at 5950/20.