There is a facts that Bitcoin is very volatile so don't be surprised when it goes down again. Unfortunately this is the negative mode of bitcoin which downing movements but don't be worried because this is just a normal flow of it's movement and for sure after downfall there will we a rising up again we just need to be relax and be always active to the movements in the market.
BTC will likely find acceptance below the immediate support seen at $7,188 (78.6 percent Fibonacci retracement seen in the daily chart) and drop to the $7,000 mark in the next 24 hours.By then, the RSI in the hourly and 4-hour chart will likely have dropped below 30.00, indicating oversold conditions, meaning BTC may defend the psychological support level of $7,000.
On the higher side, only a daily close above the 10-day MA, currently seen at $8,111, would abort the bearish view.
Only a daily close above $8,644 (May 21 high) would signal a bearish-to-bullish trend change.
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