BTCUSD Daily Chart update - May 23, 2018

https://www.tradingview.com/x/XLVpWICg/

As mentioned yesterday we headed for the 7,600-7,800 area. The low so far is 7,855 where I have a support line from before. If this line is broken the next level will be the trend line around $7,000 as well as horizontal support at $6,800. On the short term we are oversold on all time frames and could expect some kind of a bounce soon. On the daily we just had a TD sell signal on a red 2 going bellow a red 1. Weekly is also on red 2. Things don't look good at all for the bulls. Depending on how strong the bounce is we will know if there could be a reversal or we are going to head for this years low and bellow towards the cluster of support in the $4,400-$4,900 area.

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