As such, the downside prevails and I'm targeting $4200-4450 as the next destination. We may pause at round-number support at $5,000, but technically the price is irrelevant so I would not bet on it holding. To be fair, the $6,000 level may remain significant, as markets overshoot and undershoot all the time. For that to be true, we need to see the coin regain that level within a week or two, and more importantly, to hold it.
I want to be , but I see nothing to support that thesis at the moment. Stay away until the tape suggests otherwise unless you like catching falling knives!