BTCUSD Daily Chart update - May 25, 2018

https://www.tradingview.com/x/pVgS9n9D/

Yesterday we broke the $7,600 support and headed towards the $7,200 level. The low was $7,265, but we bounced from there back to the $7,600 area to form a doji on the daily chart. That suggest that we are in a short term correction upwards and can expect more upside today. I think the maximum upside will be limited by the $7,850-7,950 range after which we will resume the downside to the cluster of support at the $6,650-6,950 area.

$6,950 - Trend line
$6,770 - Horizontal support line
$6,650 - TD support

I expect this area to hold on this daily downtrend and reverse from there.

Weekly: Down

Daily: Down

4 hour: Up

1 hour: Up

Prediction for the day

Upwards move to the $7,850-7,950.
The bounce will be invalidated if we break $7,500 to the downside.

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