- There has been a fresh wave of selling in BTC/USD today.
- There was some volume kicking in on the sell-side as the hourly trendline broke.
BTC/USD Hourly Chart
Looking at the 1-hour BTC/USD chart below you can see the trendline has broken and been retested.
Overall this is a rejection pattern and could indicate that the price is heading lower.
Now 7,428.50 is the low that needs to be taken out for the bears to assert their dominance.
The volume pressure looks clearly like the sell-side are winning the battle at present.
On the topside the main resistance holds at 7,933.40 and we are pretty far from there at present.
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Additional Levels
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