BTC/USD price analysis: $8,200, the last bastion

As I wrote 2 days ago, the BTC/USD pair was more likely headed towards $8,200. We had some intraday movements that provided short term opportunities, but nothing lasted longer than few hours.

At the time of this article, the BTC/USD pair was trading at $8,200 with earlier lows at $8,100. The market clearly wants to go down but the pair seems to find support around $8,200 like it did two days ago.

I expect the pair to go down from to $8,200 to $7,800 because of the overall lack of strength on the market, nevertheless another April 12 scenario can always occur, a scenario beyond any TA (technical analysis).

At this point, I will not open any position and wait to see if the resistance holds or not (see chart).

I would appreciate your feedback and your vote very much.

For Educational Purposes Only.