Bitcoin Fails to Break $7.8K and the Bearish scenario

 Bitcoin Fails to Break $7.8K  and the Bearish scenario

Gate Trade News Sunday, December 1, 2019 31 3

Now, I will explain multiple bearish scenarios as a few different ones are possible. The first scenario is a breakdown towards $7,350-7,400 area for a test of support (as that’s a significant support area). 

A potential weak bounce to $7,700 can occur from this level of support, which I’d classify as a short opportunity before the price is ready to break downwards to $6,900-7,000 area.