As we can see in this chart, Bitcoin is at a crucial support level. The 50MA and 200MA on 1D chart are also converging and further fall in BTC price can lead to a death cross. RSI is also moving in unison with BTC price and a further break below 35 will lead to continued downtrend. Next support level of Bitcoin is currently at 7700.
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The original post was published here : https://medium.com/ledgerfund/bitcoin-technical-analysis-bcbc82ed39e7