Short term bounce imo, Good luck everyone, price should not breach 7700 to remain bearish. the diagonal is extremely technical with 0.786 bounces on both ends we could expect some thrust/overthrow towards the end of the 5th wave or C at given fibs on the chart. Probability not certainty.
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small bounce short term enough to scare the bears and run the stops :)
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probable outcome.
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what we want vs what is more probable to happen.
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If 7700 breaks expect 8k to be tested if 8k breaks expect 8500 to be tested. 7500 will be a level to watch for strong selling action. If there is further consolidation we could see a good move up. Ultimately btc is still in a corrective state.