The chart has shown us a clear sign of the structure that could be in play. A lot of factors that could easily identify the bears are in full control for now. One of them is the size of the red candle which is the most significant comparing to all factors. The size of the red candle lately are getting bigger and bigger. This fact shows us that the bears work so good to print the net sell in .
Yesterday's anticipated region has finally been touched with a style. Just like what I've said previously the S2 whatsoever is like a magnet which is having an alignment with the lower line of the channel. You can see, the price is now trending above it.
I add another closest support with the S2 which is the S3 as the area for us to identify the bear trap region. This is another strong and crucial support of bitcoin if the S2 can't hold the price for now. Breaks below this support can bring the price to a free fall toward $7400 - $7200 region because there isn't any significant level of support between the S3 and the $7400. That's why we might be very aware of this movement.