Bitcoin $7,000 or Bust

Looking at Bitcoin’s price action today, we see support has been found $7,500. Price respecting bearish channel structure, expecting a push up towards $8,200, stochastic RSI showing momentum heading towards the upside. A rejection from it’s $8,000 resistance leads us to support at $6,500, where we could potentially see a double bottom formation. However if we do close below $6,500, expecting a panic sell off towards $3,000.

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