Bitcoin had another day in the red, bringing it closer to testing the long-term floors around $6,000.
Bitcoin might be done with its correction and could aim for the Fib extension levels next if the climb resumes.
Bitcoin appears to be trending lower inside a descending trend channel and is currently testing resistance.
Bitcoin is finding resistance at the top of its falling wedge pattern visible on the daily time frame, setting its sights back on support.
Bitcoin fell below the short-term triangle and rising trend line, setting its sights on the longer-term area of interest next.
Bitcoin is still trading inside a descending channel on the daily time frame and is testing resistance around the $8,000 levels.