This is my analys, for my own purposes. Don't use it like trading advice!
Comment:
Drop from 7360 to about 7110. Why? Heavy resistance, cannot break it. Drop is pretty sharp. We should stay above 7050 (bull). So, is the drop good? Probably - It can be. Im hoping for another atempt, to try break R1 from this area - all depends, for how long we stay here (7100).
Comment:
Here is the thing. It looks like we stabilize around 6900 which looks like potential good support - next is around 6700. We will probably stand in this area around (6900) for next maybe - half day.
Comment:
This drop was really strong. First freefall to 6700 just happend in few we can say - seconds, next - to 6300 also. Moves like this aren't normal. This happend when fake 'walls' are made, which can pushing price high or down - this happend also here. Before drop to 6300, we were a little bit stable at 6700 - 6800 area. After that one of the big orders - which hold price up, got delete and price start immediately droping to. OK back to the analyze, 6300 must hold, othervise next support is 6000. We are now in really interesting area. It look's like again we stay in this area 6300 - 6400 for a while..maybe consolidation phase?. In this area is really hard to tell where should we go. On the graf, it's looks like forming big bear flag. If we can go above 6500, the bear flag should be canceled for now.
Comment:
Othervise, we can expect another test of 6300 support
Comment:
We are still inside big bear flag. If we cannot go out from there (min 6500 - better 6600 and more) we will see probably next drop. Next support is around 6000, which is really important, if we break it, we can go to 5800 area. At the moment, we are creating small triangle, which looks like it can be break to down -possible another test of 6300 support.
Comment:
But volume is pretty low on both sides.