Possible fractal in play. Looking pretty similar to May 9, lets see what it does :) if it does, looking at heading towards 6500 as a possible target. Some likes would be great!
What you are suggesting will create a lower low on the higher time frames. Would it not be more bullish with a higher low and therefore more likely path to a retest of 8900?
diskotek
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@pragmaticbestfit, I still believe we are in a bear market so going down to a lower low and then a retest to 8700-8900 is my speculation, and only a speculation :P
DatCryptoBoi
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I spotted the same fractal. Discounted it as unlikely though. What's different between then and now?
Then: start of a downtrend
Now: after a significant downtrend
Then: No RSI Divergence / oversold
Now: RSI Divergence after oversold
Then: At resistance
Now: At support
It could happen, we should be prepared for anything. Right now Im expecting a re-test of 7200 and reversal to 8k.