Bitcoin (BTC) update Wed 14 Mar 18

Price has made it to the 8118 area, as expected and is still moving lower.
There has not been price recognition yet (a nearby close), so now looking to the next level at the 7432 area.
The retracement level, defined by 7432 in this case, is often a turning point and represents a high probability for the low for this move.
If 7432 doesn't define the low, the black line at 6565 has to hold, on the close, or we could see much lower prices.
Although the market is strongly oversold, markets can stay oversold for long periods.

It would not be a surprise to see an explosive rally once the low is made, wherever it may be.
Other charts that i use are indicating that we should see the 14,000 area this month - March 2018.

Dips are always buying opportunities. BTC is on sale.