Testing the uptrend. Logarithmic axis of prices on 1 year chart

Here we see the trading corridor. We left the corridor in the end of the year and touched the $20 000, bears pushed us back to the corridor very quickly If the red line will be crossed and we will be testing the $8 000 level the drawing of the opposite movement can be projected ( the black line projection).

If there will not be a quick return to the corridor, the uptrend line can be broken.

Support level: $8 000.
Buy opportunity there, but we should, take care of risks:

• Place stop loss orders below the support level.
  

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