So if the market keeps selling below the $8,300 level, you expect it to find support at the 200-day MA ~$8K? That seems reasonable for a local bottom, though I could see much lower.
I'm neutral on the current consolidation, need to let it build out. I think bulls got spooked by the drop in the stock market yesterday. If the bottom falls out of the stock market next week, I expect BTC to follow.
Potential areas of interest in that case are the daily S1 pivot ($6,600s) and the 0.618 retracement ($6K):
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FqueEPz2.png&t=665&c=NsmC56_TPjOtfA)