Bitcoin is in a sharp slide after consolidating for a couple of sessions around $8000. Getting into the 3/29 US session, the market is shorting BTC/USD towards the March low around $7310. I think we can expect some intra-session support here, but I think upside will be limited to the $7700-$7750 area.
BTC/USD 4H Chart
- If price indeed holds below $7700, then the next test of $7300 might break down the support.
- Then, below $7300, we have to anticipate the prospect of $6000, especially if this $7300-$7400 area becomes resistance.