If the price finds support at this level then bullish divergences will be visible on the 1H, 2H, 3H, 4H and 6H charts on RSI and MACD. If this happens then i will consider that the ABC correction (WAVE 2) of the 5 waves up (WAVE 1) from 6k to 11.7k is complete and i will target at least a 1 to 1 extension of WAVE 1 which is at 11.8k.
Wave 1 6k - 11.8k Wave 2 11.8k - 7.3k (~ 0.786 retrace) Wave 3 11.8k (at least 1 to 1 extension of wave 1) Wave 4 small retrace because Wave 2 retraced to ~ 0.786 level (assuming the correction ended at 7.3k) but it could also send us down creating a wave failure if we have a tripple top Wave 5 (if wave 3 is only a 1 to 1 extension of wave 1 than i will target the 1.61 extension for wave 5)
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IMHO the correction is complete and now (if there is no wave failure) we will go in 5 waves to at least 11.7k.
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(small error, the 1 to 1 extension of wave 1 is at ~ 13k, the 0.786 extension is at 11.8k and this is my first target because it might create a triple top and send us down again)