Trading Bitcoin: Price Falls Below $7k, What Now?

Price Falls Below $7k, What Now?

On the hourly chart above, you can see that Bitcoin has broken below the critical $7k support level.

Daily

On the daily chart above, you can see that Bitcoin has reached a red 3 on the sequential indicator. When the red sequential 3 dipped below the previous red 1, sequential theory activated a short trade. At this point, our short term target is $6.5k with the next support level at $6.2k. A drop to this price point would be an excellent buy the dip opportunity in our opinion.