Given the periodic motion of the bearish BTC market in the prior week, we can expect a short rally to the low 7000s before the next selloff, which will test the critical support levels of the mid 6000s. As the price of BTC reaches mid-November levels, the market is reaching a crossroads. I expect the overcorrection in the market to rally back to the expected levels around 9k in the next few weeks.
Comment:
Failure swing at the drop to 6600. Expect the projected rebound later today.