Bitcoin Bears Are Strong

The price broke the uptrend line and dropped below the support zone. Now 8000.00 is the key level. We have to keep an eye on the price action at this level. If the price can break it, we should expect further downward movement to the support zone formed by the uptrend lines and 6000.00 level. If we look at the indicators, we'll see confirmation for further downward movement. MACD lines and histogram give bearish signals. DMI supports the downward movement and confirms the power of bears. 

 

Alternative variant: if the price bounces from 8000.00 level, the market will be able to return to the sideway movement between 8000.00 and 10000.00 levels. For confirmation the upward movement, the price will have to move above 10000.00 resistance level. This movement must be supported by fundamental news.