Bitcoin price could drop to $7,349 before bounce back to $8,863

Looking at the correlation between MACD and the bitcoin price on the 1 hour chart, it seems likely to me given that the RSI is currently very high, we will see a short term drop in bitcoin down to the lows seen before the weekend, then the price will be very low and a correction could take the price gradually back to levels in the region of $8,863.