Today's action, so far (7pm EST), argues for another leg to the downside below Friday's low at 7820. The 7505 area would be a 50% retracement of the recent rally and the rising blue trend line can also act as support.
If you are trading this market, i would wait for the dip before buying; if you are an accumulator, any dips are a buy opportunity.
With a small trading range today and it being an inside day, tomorrows action is uncertain. IMO, the likely direction for tomorrow is down.
Last week's action -- ending 11 Feb '18 -- resulted in a 2.5% gain over the previous week.
The year to date (YTD) result -- ending 11 Feb '18 -- is down 38.05%
The change from the all time high (ATH) -- ending 11 Feb '18 -- is down 56.85%
all using Bitstamp quotes
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