Price action is not linear so any movements in either direction will come in stages. Bitcoin’s two day slide of over a thousand dollars may not be over yet, but at the moment BTC appears to be taking a breather.
A number of scenarios could be on the cards for Bitcoin’s next move. Over the past 24 hours it has fallen from $8,000 to an intraday low just above $7,500 before starting to move back upwards again. The weekly picture is not so pretty as BTC is down 8.5 percent from its price levels this time last Wednesday.