It is challenging EMA10 right now after a false breakdown below the 0.786 Fib. retracement level from the last wave.
If BTCUSD can remain above EMA10 ($8057), this is a good signal telling us that it is likely to go higher.
But if BTCUSD moves below $7993 (0.786 Fib. retracement support), it can easily below lower (red arrow).
To the upside, the next target is sitting at $8168 followed by $8225 (short-term).
Depending on how these levels are handled, we focus on what happens next... What's your take?