Bitcoin Price Prediction: BTC/USD accelerates down to $8,100 support
- Divergence structures appear in MACD and DMI.
- In the short term, a bullish rebound may occur.
- The long-term bullish trend is in jeopardy below $7,300.
The BTC/USD pair is currently trading at the $8.409 price level and keeps flashing the weakness shown in recent hours.
The 4-hour chart points to the support level at $8,000-$8,100.
The BTC/USD pair moves within a triangular figure that was formed at the relative lows of late October.
Considering the current low volatility, these levels should not be reached until the coming days. The loss of this support level at $8,000 will open the door to the search for new relative lows below $7,300.
It is important to note the divergent structures in both MACD and DMI.
The bears have a slight advantage over the bulls in trend strength, but the latter are convinced that they will end up winning, given the increase in bullish intensity despite the constant falls in price.
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Author
Tomas Salles
FXStreet
Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.
