We are very close to a psychological number - 8000$. As we can see from the chart the first break out attempt was unsuccessful. Bears stepped in producing nice Pin OB with high . Market dropped down to a near-term support that is also another psychological number - 7000$. Then bulls bought it back aggressively and we are now really close to a territory again!
This spot is really important to watch in our opinion. If bears win we would possibly get here if not then break out and retest would apply.
What are your ideas?
Are you or bearish?
Enjoy the ride!
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