Bitcoin trying to find some support at our 200 MA at 8280$ after seeing an aggressive selloff earlier, this, in turn, is the last major support level until our next retracement level (0.236 fib/7000$). However, even tho we are testing major support, a break of support at 9400$ was extremely bearish automatically suggesting a retrace to the 7k region. If bitcoin fails to hold above 8280$(200MA) on the daily chart, this would be good confirmation. Note: A bullish reversal would currently require a recovery well above 9400$, this would indicate a potential bear trap.
https://www.tradingview.com/x/LORJfKxn/