The dump at 8.5k wasn't strong enough. The reaction was weak, as if the resistance wasn't even that important.
The same happened at the mighty 7.5k , which tunred out not to be so mighty after all.
And 6.5k? As if it wasn't even a resistance, lol !
So, BTC is preparing one last push imho, this would also fight the weekly picture.
To 10k, then dump to 5-6k, and oscillating around 6k until it stabilizes at 6k and prepares for the next bullrun in early 2020, but this time, targeting the old ATH . Which of course it will break
at some point in 2020, making hew highs.
Back at 7200 as of writing. This leads the 1d and 3d to rapidly cool off. I still think that BTC wants to do a final push to 10k, this level as top is also not too bad, but the strong bounce here shows that BTC is still in bull mode.
We might see something like this:
It wants to push to 10k with the new weekly candle:
Weekly doesn't look like a reversal candle. The next weekly will be the crazy one I think. Will go up to 10k, even 12k possible, then dump to 5-6k. That will be some really good old bitcoin rollercoaster action :)
If postponed I am uncertain, then we might push for 10k, but in this case we probably won't be able to push through 10k and the dumps will commence to 5-6k.
We could still push for 10k, but I can already see it starting to dump here, too. We'll find out soon.