It could go in either direction from here but I feel like we will get a sweep of the local lows before 9500+, so 8700ish to 9500+
Or it could go 9500+ to 8700... either way we will have to sweep the local lows before 10k+ if we are to go there
PA looks bearish as the POC moved from 9400 to 9120 in just 8 candles and now price is being rejected by the EQ of the...
Price looks slightly bullish for now retracing to the equilibrium of the weekly range. I think that a stop hunt on the upside is more likely, I might long here and aim for the top of the range but small position.
Closed my small long once I saw price closing below the DEC bottom, JUNE high 50% fib and then getting trapped under the $8400 resistance.
Plan here is to short $8400 with stop above the swing high near $8467.
TP 1, 2, and 3 are all above $8000 as I'm expecting this level to hold as support for now.
Expect some consolidation after being rejected from the 8000 level. I'd be surprised if we dumped through that level so fast I feel like we could be ranging in here for a while. Luckily for us it seems like BTC has already established a resistance area for us on the smaller TF's around 8700-8800, and that is where I have my short orders placed with a tight stop...