BTC: RETESTING the previous low @7960 will drop it like it's hot

If price retraces to the 7960 level, a sell signal is activated with target reaching 1.5 times the high
50 MA crossed below 200 MA, made a low (blue line), retraced back between the 50 and 200 MA, broke previous low making new low at green trendline, and now if it retraces back to the previous high, it will probably just retest it and continue its way downwards to the target @6000

The target is measured as 1.5 times the distance between the most recent high and the most recent low.

Let's see how this plays out :)

Good luck traders!