BTC has found some support, are we about to test the 200MA?

BTC has found some support and the immediate bear trend has lost a bit of steam. We could either find ourselves going down from here, or we could be in for a bounce. I am keeping a close eye on the 200MA on the daily chart - currently around $8,300. If we have a 4hr close back above that level, I will turn bullish . The longer we stay below that value, the more likely we are to see another leg down. If we go bullish, I have an initial target of around $9,000. If we go bearish, I have a target of around $7,000.