If we break 6.8k, we go down 5k - 5.5k because we have ema 200 in this zone.
Rsi is entering danger zone.
Also the move down can be bigger, drawing a potential W (inverted charted) that is bearish (so bullish on a normal scale).
Don't forget it can also go up, flip a coin.
If not already in a long, wait for a possible retest on the ema cross (12/26) then likely to go for $138-139.
Once at around $138 ema 100 should resist us and repeat the "fractal" (yellow, blue, red).
This is only a scenario, beware
Here is a Pattern i noticed. Usually W are bearish but this one is bullish.
Why do I say that, because in this W you can find a M (that is usually bullish) and most important the last W leg down does not show a LL.
So here the idea to ilustrate my words
I know this is very unlikely, we have ema 200 as support at 4.2k, ema 50 on monthly at 3.9k and rsi lower 10 on daily.
But, because there is akways a BUT, this year we have experienced Bart patterns, and I feel like this could be a Weekly Bart (could get us around $1.5k and $1k)..
Don't mind, i know we are already down a lot, but this is a possibility, and...