The market is now being traded sideways with the $7'000 level acting as a support.
Current support/resistance: $7'000/$7'500
The RSI reached a strongly oversold level two days ago. Since then candles have turned green. Looking at media and sentiments it seems that fear is still present and a continuing downtrend possible. Furthermore, indicators are still signaling a bearish market, which will most probably not triggered a massive buying pressure. In order to create that pressure, the price would need to consolidate sufficiently long in order to trigger new signals.
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