Bitcoin Analysis (BTC/USD)

TUESDAY
1-OCT

Price could continue its drop since the closest LQ is below SEP low, followed by JUN low.
On the MN chart, it's hard to see price reversing to the upside before a support level is reached.
The closest support level is the zone below $6,500.

On the Weekly, price took out LW low and rejected. At the moment it is reacting from the previous W1 buy zone that caused the yearly high.
The upside LQ seems too far away - above LW high.
This could mean that price will continue its drop or consolidate and rally eventually.

On the Daily, price has found some support around $8,050 as it was unable to make a single close below it.
The latest swing high was taken out today which could mean that there's not much upside LQ left nearby and a drop could be expected.