Bitcoin struggle

Bitcoin is struggling to stay above the .236 retracement from the daily high and close.

It's currently in a bearish trading channel and is bouncing off the top resistance and bouncing off the lower support.

A bullish move would be the daily candle closing above $8400.

A bearish move would be closing below $8200.

We need to see a NEW daily high off the low before we get comfortable with this move.

We have a new trendline that's formed off the previous lows.

So far, things are looking good for Bitcoin.